ING Group will merge two of its entities, Aeltus Investment Management and ING Furman Selz Asset Management, into a new institutional investment management firm to be called ING Aeltus Group.

Aeltus Investment Management became part of ING when it acquired Aetna Financial Services last year. Aeltus manages more than $40 billion in pension fund, endowment and foundation assets. The unit also manages the Aetna family of mutual funds, which are offered primarily through ING Aetna Financial Services retirement plan products. ING Furman Selz specializes in alternative investments and managed accounts, in which it manages about $30 billion.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.