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
By  Mark Bruno
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

Maryland bars advisor over charging excessive fees to clients
Maryland bars advisor over charging excessive fees to clients

Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.

Wave of SEC appointments signals regulatory shift with implications for financial advisors
Wave of SEC appointments signals regulatory shift with implications for financial advisors

Reshuffle provides strong indication of where the regulator's priorities now lie.

US insurers want to take a larger slice of the retirement market through the RIA channel
US insurers want to take a larger slice of the retirement market through the RIA channel

Goldman Sachs Asset Management report reveals sharpened focus on annuities.

Why DA Davidson's wealth vice chairman still follows his dad's investment advice
Why DA Davidson's wealth vice chairman still follows his dad's investment advice

Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.

401(k) participants seek advice, but few turn to financial advisors
401(k) participants seek advice, but few turn to financial advisors

Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave