They will be responsible for sourcing and evaluating potential investment opportunities and providing support to portfolio companies.
The transaction was first announced in November.
The transaction closed on Dec. 31.
He will work to explore new investment opportunities and to help design and execute growth strategies.
Plan’s new executive director will start early this year following a search initiated in September.
The outgoing CEO is considering a run for the U.S. Senate.
The plan will hear presentations from existing managers’ new fund offerings.
Three core-plus real estate managers will vie for a $20 million mandate.
Plan committed a total of $80 million between two direct lending commitments in December.
The team will join a new segment of Ares dedicated to real assets.