Clarion Partners founder retires
Frank Sullivan, one of the founders of Clarion Partners, has plans to retire as managing director at the end of the month.
Sullivan has 43 years of experience in the real estate business. After graduating from the Wharton School at the University of Pennsylvania in 1971, he was recruited by Provident National Bank to join the real estate finance group.
In 1979 Sullivan joined Citibank as a regional acquisition vice president and was promoted in 1982 to chief acquisition officer, all in the real estate investment management department.
Sullivan left Citibank with two others to found Clarion Partners in 1984. While at Clarion Partners, Sullivan worked to raise and invest capital. At the time of his announced retirement, he was still managing $4 billion in separate accounts.
Sullivan is a veteran of the business and saw the evolution of real estate as an investment class.