Oregon’s state pension fund might review its real estate investments with ING Clarion Partners after the company announced Tuesday it would be acquired by its management and private equity firm Lightyear Capital.
“The sale could put them on the watchlist” with Oregon, Nori Gerardo Lietz, a consultant at Partners Group AG who advises the fund on real estate investments, said in a telephone interview.
“As with all of our funds, we watch the evolution of the management carefully,” said James Sinks, a spokesman for the Oregon State Treasury, which oversees the pension fund.
Suzanne Franks, a spokeswoman for ING Clarion Partners, declined to comment.
Real estate accounted for $5.33 billion of the $55.7 billion Oregon Public Employees Retirement Fund, Salem, as of Dec. 31, according to its website. Mr. Sinks couldn’t immediately provide a total figure for how much money ING Clarion Partners manages for the state.
The ING Clarion Partners-Lightyear deal was announced Tuesday at the same time as parent ING Group NV agreed to sell the majority of its global real estate investment management unit to CB Richard Ellis Group.