ING Clarion Capital, part of ING Real Estate Investment Management, has hired Timothy Zietara as a senior vice president to help grow its debt platform. Zietara will be based in ING’s New York office.
Zietara was previously managing director at CIT, in its real estate structured finance and equity group, building a portfolio of approximately $1 billion in debt and equity assets. Prior to CIT, Zietara built new lending platforms in New York for Wrightwood Capital, Wells Fargo and PNC Bank.
In his new role, Zietara will help grow ING’s debt business, including providing capital to the commercial real estate market, developers and managers of institutional assets, as well as targeting existing non-securitised loans from banks and other financial institutions.
ING Clarion has been making moves in the debt space, currently targeting $1 billion for its latest debt investment fund, ING Clarion Debt Opportunity Fund III. According to documents by the California pension, the Los Angeles City Employees’ Retirement System (LACERS), the vehicle will invest in high-yield commercial real estate and related debt investments, including rated and unrated commercial mortgage-backed securities, B-notes, collateralised debt obligations, and other high-yield real estate debt. LACERS committed $25 million to the fund.