The Institute for Portfolio Alternatives, an organization representing the non-traded alternative investment industry, has elected Blackstone Real Estate managing director Leon Volchyok as its chair-elect for 2020.
Trisha Miller, executive managing director at Robert A. Stanger & Co., is the current chair of the board and will be succeeded by Volchyok in January 2021.
“Leon’s leadership and industry expertise are invaluable during this period of tremendous growth for the portfolio diversifying investments industry as more institutional asset managers enter the retail market,” said Tony Chereso, president and chief executive officer of the IPA. “We are fortunate to have industry leading thought leaders such as Leon who are willing to take the helm of the board as demand for alternatives from investors increases.”
As 2020 chair-elect and 2021 chair, Volchyok will be tasked with leading the IPA board, which guides the direction of the organization’s initiatives and its staff.
The IPA noted that Volchyok’s industry experience includes his “significant involvement” with Blackstone Real Estate Income Trust, a publicly registered non-traded REIT, as well as other public vehicles. Blackstone REIT has been a major player in the non-traded REIT space since its launch in 2017 and raised $8.7 billion in investor equity in 2019.
Earlier this month, the IPA elected Dan Vene, co-founder and managing partner at iCapital Network, to a new board seat created to represent the industry’s growing technological and distribution capabilities.
The Institute for Portfolio Alternatives is an advocacy and education group for the non-traded alternative investment industry. The organization seeks to raise awareness of investment products with low correlation to the equity markets, which include non-traded real estate investment trusts, business development companies, interval funds and direct participation programs.