Allstate Hires Only Banks Owned by Minorities, Women, Veterans for Big Bond Sale

Allstate Corp. hired solely banks owned by minorities, women or veterans for its bond sale, in the biggest corporate deal yet managed only by diverse firms.

The insurer enlisted Loop Capital Markets, Academy Securities, Samuel A. Ramirez & Co., Siebert Williams Shank & Co., AmeriVet Securities, Cabrera Capital Markets, C.L. King & Associates, Penserra Securities and R. Seelaus & Co. to underwrite its debt offering, according to a filing. Allstate also said it’s committing to doubling trading volume with diverse firms next year for its $92 billion investment portfolio, according to a statement Thursday.

Companies typically work with large banks like JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc., which lend to corporations for small fees in the hopes of winning more lucrative capital markets business. Diverse firms, which are mostly structured as boutique investment banks, usually have smaller roles on bond deals with less responsibility for

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Hilco Redevelopment Partners Hires Real Estate Industry Professional George Needs as Vice President – Mixed Use Development

BOSTON, Nov. 5, 2020 /PRNewswire/ — Hilco Redevelopment Partners (HRP), the real estate development unit of Hilco Global that remediates and redevelops complex and obsolete industrial properties, announced today it has hired George Needs to the position of Vice President – Mixed Use Development.

Mr. Needs joins the growing HRP organization and will be a vital addition to the new urban mixed-use development team. Mr. Needs will join Melissa Schrock, who was recently brought on to lead the team, and together, they will be responsible for managing several exciting projects currently underway, including L Street Station in Boston, Massachusetts and Campus Bay in San Francisco, California, among other significant projects throughout the country. He will be based on Boston, MA. 

Needs’ responsibilities will include managing the entitlement efforts, leading project design efforts from conceptualization through construction documents and overseeing the construction and leasing of the various

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Cresset Diversified Real Estate Hires Dominic DeRose as Director of Investments

DeRose to work with team responsible for deploying equity for $500 million Qualified Opportunity Zone Fund

Cresset Diversified Real Estate announced today that Dominic DeRose has been named Director of Investments. In his role, DeRose will focus on the firm’s vast real estate portfolio with an emphasis on their qualified opportunity zone efforts, as well as a series of smaller real estate funds focused on various strategies, including industrial development and distressed investments.

Together, Cresset Partners and Diversified Real Estate Capital manage the Cresset Diversified QOZ Funds, along with a variety of real estate and private equity strategies. The two partners are leaders in finance, real estate, private equity, and wealth management, with Cresset Asset Management, LLC, overseeing $10 billion in AUM through private wealth management, and Diversified Real Estate Capital managing a $5 billion real estate portfolio.

“Dominic has the demonstrated track record of success and deep experience across

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