The Investment Program Association, a trade association that represents the non-traded alternative investment industry (which the association refers to as the “portfolio diversifying investments industry”), has elected six new directors to its 25-member board, each of whom serve a three-year term.
The new members of the IPA board, beginning January 1, 2018, are:
Zach Klehr, EVP, Fund Management, FS Investments
Trisha Miller, Chief Executive Officer of Starwood Capital, L.L.C.
Ella Neyland, President and Affiliated Director, Steadfast Apartment REIT III, Steadfast Apartment REIT and Steadfast Income REIT
Lenny Silverstein, Co-Founder, Preferred Apartment Communities, Inc.
Ryan Sims, Senior Managing Director, Investment Management, Hines
Matt Fries, Product Strategy Leader, Cetera Financial Group
“Our board of directors guide the IPA’s mission to ensure that we consistently and proactively advocate for all our investment sponsor, broker-dealer, and associate members and support the development and growth of our industry,” said Anthony Chereso, president and chief executive officer of the IPA.
He added, “We are proud to welcome six new senior executives to our board, as they bring strong leadership skills and deep industry expertise to an already incredibly diverse group. Whether it’s working with federal and state legislators, industry regulatory agencies or with the investing public, the IPA looks forward to utilizing the board’s industry experience to further our important work on behalf of a dynamic PDI industry.”
The IPA supports individual investor access to a variety of asset classes with low correlation to the traded markets and historically available only to institutional investors, including: non-traded real estate investment trusts (which the IPA calls “lifecycle REITs”), perpetual life REITs, non-traded (“lifecycle”) business development companies, interval and closed-end funds, energy and equipment leasing programs and real estate private equity offerings. The mission of the IPA is to advocate for such investments through education and public awareness.