Conning, a global investment management firm, has acquired a majority stake in Pearlmark Real Estate LLC, an investment manager of commercial real estate debt and equity strategies.
Pearlmark, headquartered in Chicago, is focused on mid-capitalization real estate investments in equity and debt. This perspective works to improve Pearlmark’s approach to sourcing, underwriting and managing its investments, looking to drive value for investors. Pearlmark will continue to operate autonomously with its investment team led by Stephen Quazzo and Doug Lyons.
“Partnering with Pearlmark is the latest example of our strategy to add best-in-class capabilities to meet the evolving needs of our clients,” comments Woody Bradford, chief executive officer and chair of the board of Conning.
Morgan, Lewis & Bockius LLP served as a legal advisor to Conning. CenterCap Group LLC served as financial advisor and Drane & Freyer Ltd. served as legal advisor to Pearlmark.