Hartford-based investment management firm Conning announced this week it will be acquiring Chicago real estate investment firm Pearlmark, a move the company said would allow it to grow and expand its current investment capability.
Conning has signed a definitive agreement to purchase a majority stake in Pearlmark Real Estate, a specialized investment manager of commercial real estate debt and equity strategies.
Financial details of the transaction, which is expected to close early next year, weren’t immediately available.
Per the companies, Pearlmark will continue to operate autonomously with its investment team led by Stephen Quazzo and Doug Lyons.
