Procyon takes a bottom-up approach to portfolio management, but the firm’s real differentiator lies in its own alternative funds, giving clients access to unique opportunities in the private markets.

Meanwhile, REITs posted positive total returns in March and are down slightly year-to-date.

Historically, the real estate investment manager relied on independent broker/dealers to reach private wealth. It wants to diversify both its distribution and its investment offerings.

After accounting for additional risks and fees, the asset class delivers virtually no extra return to investors, according to a study released by the National Bureau of Economic Research.