HARTFORD, CT and CHICAGO, IL – March 29, 2023 – Conning, a leading global investment management firm, and Pearlmark Real Estate, L.L.C. (“Pearlmark”), a specialist investment manager of commercial real estate debt and equity strategies, today announced the completion of Conning’s acquisition of a majority stake in Pearlmark.
Please see the initial announcement for additional information about this transaction.
Conning (www.conning.com) is a leading investment management firm with $191 billion in global assets under management as of December 31, 2022.* With a long history of serving the insurance industry, Conning supports institutional investors, including insurers and pension plans, with investment solutions, risk modeling software, and industry research. Founded in 1912, Conning has investment centers in Asia, Europe and North America.
* As of December 31, 2022, represents the combined global assets under management for the affiliated firms under Conning Holdings Limited (CHL) and Cathay Securities Investment Trust Co., Ltd. (SITE). SITE is a separate entity under Cathay Financial Holdings Co., Ltd which is the ultimate controlling parent of all Conning entities. The CHL CEO sits on the Board of SITE and helps oversee the business.
Pearlmark is a Chicago-based investment firm that targets domestic core, value-add, and opportunistic real estate opportunities via commingled funds, separate accounts, and joint venture structures. Since 1996, Pearlmark has sponsored more than a dozen real estate equity and debt investment programs and completed 568 real estate equity and debt transactions on behalf of investors, representing $5.4 billion in equity capital commitments and nearly $13.9 billion in gross investment value. Pearlmark is dedicated to creating value for its investors and offers a range of investment opportunities nationwide across various property types (office, industrial, multifamily). For more information, please visit https://www.pearlmark.com.
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Myra Lee, Conning: +1 860 299 2278 / email@example.com
Katrin Lieberwirth, Stanton: +1 646 502 3548 (off.) / +1 646 286 5401 (cell) / firstname.lastname@example.org