ACORE Capital launches wealth platform, taps Apollo's Manning to run it

ACORE Capital has launched ACORE Capital Wealth Solutions, a platform offering high-net-worth investors the firm's commercial real estate credit and select equity investments, according to Alternative Credit Investor, which first reported the launch.

Mick Manning will run the unit as president, overseeing strategy, product development and distribution. He joins from Apollo's bridge investment group, where he was a managing director, and has previously held roles at Forum Investment Group, KBS Capital Markets Group and Pacific Oak Capital Markets.

Chief executive Warren de Haan described the platform as an extension of the business ACORE has built over the past decade. The firm argues that wealthy individuals remain under-allocated to commercial real estate and private real estate credit, often holding a single, illiquid property. It says the platform's strategies are designed to convert concentrated holdings into diversified, income-producing and tax-efficient investments.

Manning framed the pitch around institutional credibility. "Advisors and their clients are looking for access to the high-quality private real estate investment managers that institutional investors already trust, with a cycle-tested record," he said. "ACORE is just that."