Richard Ellis has recruited Ivo de Wit as a director of its fund of funds business.
De Wit will join the firm in London from the start of July with the same title he has been holding at ING Real Estate Select – global portfolio manager.
He will remain in London and will have responsibility for global mandates, CBRE said.
This is the latest departure from ING Real Estate Select, the multi-manager business of Dutch group ING which decided last year to relocate the business from London to The Hague.
That decision sparked the departure of ING Select head Nicholas Cooper to US firm, The Townsend Group, this year. Also this year, Asia head, Nicholas Wong, told colleagues and associates he was leaving. He said the consolidation of ING Select's Hong Kong office, where he was located, with its other office in Singapore to form one Asia headquarters – led to his decision to leave the business. He also joined Townsend as it opened its first office in the region.
De Wit’s resume includes a stint in New York where he was vice president and head of US strategy for ING Clarion, responsible for client and fund strategies and forecasting real estate returns.
Jeremy Plummer, head of CBRE Investors Global Multi Manager, said in a statement that De Wit would help “service the growing number of clients” coming to the firm.
CBRE Investors Global Multi Manager is headquartered in London, but also operates offices Boston and Singapore. It has $3.2 billion of investments under management.