ING confirms talks to sell real estate unit

ING Group is talking to “several parties” regarding the sale of parts of its ING Real Estate Investment Management business, spokeswoman Victorina de Boer confirmed.
JAN 05, 2011
ING Group is talking to “several parties” regarding the sale of parts of its ING Real Estate Investment Management business, spokeswoman Victorina de Boer confirmed. The discussions “may or may not lead to one or more transactions,” ING said in a statement Monday. InvestmentNews first reported that ING had put the real estate unit back on the block in April 2010. Ms. de Boer would not name the interested parties and declined to comment beyond information given in the statement. Private equity firm TPG Capital made an offer for REIM, while KKR & Co. pulled out of the bidding, people with knowledge of the situation said in December. CB Richard Ellis Group and Jones Lang LaSalle also submitted bids, according to the sources. REIM oversaw €65.3 billion ($86.8 billion) in assets as of Sept. 30 and had more than 650 clients, according to its website. Drew Carter is a reporter for Pensions & Investments, an InvestmentNews sister publication.

Latest News

Private credit becoming 'big piece' of annuities, T. Rowe exec says
Private credit becoming 'big piece' of annuities, T. Rowe exec says

Goldman Sachs retirement survey finds 83% want guaranteed income, while the annuities providing that income increasingly hold private credit.

Zocks debuts Claude plugin with seven skills for financial advisors
Zocks debuts Claude plugin with seven skills for financial advisors

The AI meeting assistant's Advisor Intelligence plugin turns client conversation data into annual reviews, tax scans and attrition alerts.

Stifel settles massive $30 million complaint involving star broker’s sale of structured products
Stifel settles massive $30 million complaint involving star broker’s sale of structured products

Chuck Roberts and Stifel have been facing scrutiny due to sales of structured products and structured notes.

The Year Is 2046 and I’m a Financial Advisor 
The Year Is 2046 and I’m a Financial Advisor 

What will financial advice look like 20 years from now? Evan Vladem explores how AI may transform wealth management while reinforcing the enduring value of human guidance, trust, and empathy. 

Wealth Enhancement agrees to buy $22B RWA Wealth Partners in family office play
Wealth Enhancement agrees to buy $22B RWA Wealth Partners in family office play

The Boston deal is set to push the PE-backed consolidator past $187 billion amid a broad RIA M&A slowdown and a potential shift in its ownership.

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains