CION Investments, a manager and distributor of alternative investments, has formed a joint venture partnership with Man Group, a global asset manager with $139.5 billion in assets under management.
The collaboration will begin with Man Global Private Markets (Man GPM), Man Group’s private markets business, which specializes in residential real estate equity and debt. Man GPM has more than $3.3 billion in AUM including committed capital and has deployed more than $7 billion in capital across equity and debt investments since inception.
“CION and Man Group will work together to create unique, scalable, and accessible investment solutions that leverage Man GPM’s origination, operational and asset management expertise and CION’s investment acumen, product management and distribution experience,” the companies said in a joint statement.
Man GPM has managed U.S. residential real estate equity and debt investments since 2012, with a focus on single-family rentals and residential investment loans. Through its single-family rental investment platform, the firm has managed the acquisition and/or development of more than 5,200 homes/lots in 13 states and 18 markets.
With respect to debt investments secured by residential investment properties, the firm has reportedly managed the financing of more than 18,000 single- and multifamily investment properties valued at more than $10 billion through whole loan purchases, cross-collateralized senior credit facilities and direct property financing.
“We’re very excited about this new venture with Man Group as we look to further meet growing client demand for private market solutions. As an early entrant to US residential real estate, we believe Man Group has the scale, operational experience and portfolio management expertise needed in a partner in this space,” said Michael Reisner and Mark Gatto, co-chief executive officers of CION.
CION currently manages CION Investment Corporation (NYSE: CION), a recently listed business development company with approximately $1.8 billion in assets under management and sponsors, through CION Ares Management, CION Ares Diversified Credit Fund, a credit interval fund with approximately $2.1 billion in total managed assets.