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A global investment firm has expanded access for its alternative asset platform to its private banking and advisor clients as well as entities that have no relationship with the firm.
The investment consultant absorbed the investment advisor and financial planning firm’s base of clients totaling $1.4 billion in assets across 30 states.
The firm has added a four-member team from PIMCO to build its new private real estate credit platform.
Alternative asset manager ITE Management has received a strategic minority investment from funds managed by Blackstone Credit & Insurance.
The search is for standard due diligence purposes as the incumbent provider’s contract is expiring.
The savings program opted to retain its incumbent consultant after issuing an RFP in the fourth quarter due to the firm’s impending contract expiration.
The foundation is searching for a successor to monitor its investment performance, rebalance its portfolio and provide strategic direction to its general investment consultant regarding the selection and due diligence of managers and risk management.
The firm hired a head of client partnerships from a recently shuttered firm to lead its business development, consultant relations and relationship management efforts.
The college’s previous discretionary advisor was acquired last year.
The search for banking and investment management services for its reserve portfolio is due to impending contract expirations.