Lightyear Capital and the management of property specialist ING Clarion Partners, have reached agreement with ING Group to acquire the US-based real estate firm. Lightyear is a leading New York-based private equity firm focused on financial services investing.
Founded in 1982, Clarion Partners has broad market reach in the Americas, with more than 250 employees in major markets throughout the US and a presence in Mexico and Brazil. With assets of more than USD22 billion, Clarion manages private equity real estate across a broad range of products and strategies for institutional and individual investors.
Steve Furnary, Chairman & CEO of Clarion Partners, will continue in his current role and serve on the Board of Directors of the firm, together with Lightyear’s Chairman, Don Marron (pictured), who will serve as Lead Director on the Board.
“We are thrilled to partner with the management team of Clarion Partners in executing their long term vision for the company.” says Marron. “We are very excited about the growth prospects in the investment management and commercial real estate industries. Clarion has a very strong management team that has performed extremely well in varying market conditions. We believe the future is extremely bright for Clarion.”
