ING's Anneka Treon and Johan Kloeze - lessons learned from building a private markets platform for private wealth clients in Europe

What It Covers

ING's Anneka Treon and Johan Kloeze explain how they built one of Europe's largest evergreen private markets platforms, growing from zero to significant AUM in three years by prioritizing client education and operational simplicity.

Key Questions Answered

• •Education-first approach: ING completely restructured their launch strategy within two weeks, shifting from product-focused presentations to comprehensive education sessions explaining why private markets matter, what they are, and how evergreen structures solve traditional closed-end fund problems for both advisors and clients.
• •Platform curation strategy: ING limits offerings to maximum two managers per category (private equity, private credit, infrastructure, multi-alternatives), selecting only top-quartile performers with proven track records across economic cycles and balance sheet capacity to manage evergreen fund liquidity requirements effectively.
• •Digital integration breakthrough: ING solved the delivery-versus-payment challenge and integrated private markets into their banking app, allowing clients to view monthly NAV positions, performance updates, fact sheets, and term sheets alongside public market investments, creating unprecedented accessibility for wealth clients.
• •Slow money framework: ING positions private markets as bottom bookshelf investments for long-term compounding, distinct from fast money trading activities, targeting the 250 billion euros in existing invested assets where minimal exposure currently exists to private markets despite clear portfolio fit.