Real estate titans aim to break open the DC plan market
The swiftly expanding frontier of defined contribution plans, and its trillions of dollars in investable assets, has been pretty dispassionate about real estate. But a group spearheaded by some of the biggest names in institutional investing is determined to recast real estate as an object of affection among DC plan sponsors.
The new trade group, the Defined Contribution Real Estate Council (DCREC), will promote best practices and education for plan sponsors, as well as the commercial real estate investment community. The organization’s founding members include ARIS Advisors, Clarion Partners, Deutsche Asset & Wealth Management, Goldman Sachs, Principal Real Estate Investors, Prudential Real Estate Investors, Ten Capital Management, TIAA-CREF, UBS Global Asset Management Global Real Estate and NAREIT.
Scott Brooks, co-president of DCREC and head of U.S. defined contribution at Deutsche Asset & Wealth Management, says the New York City–based co