Blackstone mooted as buyer for ING REIM

Private equity giant Blackstone is one of the potential buyers of ING Real Estate Investment Management (ING REIM), according to a report in Investment News. The US-based online news service for financial advisers cites an unnamed investment banker as the source for the report.

Blackstone and ING Group declined to comment on the report. Goldman Sachs, said to be representing ING in the sale, also declined to comment.

ING Group unveiled a restructuring plan, entitled Back to Basics, last October after it received a financial injection from the Dutch government. It has been widely speculated that ING Group will sell the asset management and development arms of its real estate business.