ING Creates Private Markets Unit, Calls It ‘Key Growth’ Area

ING Groep NV has created a new unit for private markets deals labeling the business as a “key growth” area within its wholesale banking division.

The business will be headed by Maarten Koning, who’s currently the Dutch lender’s global head of trade & commodities finance, according to a statement. Based in London, Koning will oversee a team of about 30 focusing on alternative capital providers including private equity firms, bank-owned asset managers, sovereign wealth funds and family offices, according to a spokesperson, who said ING plans to expand the team to 40 eventually.