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 team will join a new segment of Ares dedicated to real assets.
The transaction was first announced in June.
The new managing director serves on the asset opportunities team, while the new principals help oversee portfolio companies.
Foundation boards are struggling to promote diversity among their members, according to a recent survey from Commonfund Institute and the Council on Foundations.