NEWARK, N.J.--(BUSINESS WIRE)--Oct 3, 2023--
PGIM Investments, part of PGIM, the $1.27 trillion global investment management business of Prudential Financial, Inc. ( NYSE: PRU ), has appointed Dominick Carlino as global head of Alternative Investments. In this newly created role, Carlino will be responsible for driving the continued development and distribution of alternative investments, tailored to wealth management needs around the globe. He will report to Stuart Parker, president and CEO of PGIM Investments.
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“Dominick’s deep understanding and experience in the alternatives space will add tremendous value to our business as we continue to extend PGIM’s full array of high-quality private capabilities to our financial intermediary partners and their high-net-worth clients.” --Stuart Parker, President & CEO, PGIM Investments (Photo: Business Wire)
“Dominick’s deep understanding and experience in the alternatives space will add tremendous value to our business as we continue to extend PGIM’s full array of high-quality private capabilities to our financial intermediary partners and their high-net-worth clients,” said Parker.
PGIM is a leader in private alternatives investing with $310.9 billion in AUM across real estate, agriculture, private credit and private equity capabilities. 1 The firm continues to bolster its alternatives franchise, most recently through the formation of PGIM Private Alternatives, a new business unit which brings together the firm’s private alternatives capabilities in order to provide global investors with a cohesive set of investment solutions.
PGIM has also invested in deepening its private market capabilities with the acquisition of majority interest in Deerpath Capital in May 2023 and acquisition of Montana Capital Partners in 2021.
Carlino brings more than 20 years of experience in alternatives distribution across asset and wealth management. Most recently, he served as managing director, head of alternative investments distribution at Merrill Lynch. Prior to his 10 years at Merrill Lynch, Carlino held various business development and distribution roles at AlphaOne Capital Partners, Morgan Stanley and Susquehanna International Group.
“Given the current market environment, advisors are increasingly seeking strategies that offer uncorrelated alpha, true diversification and return enhancement within their clients’ portfolios. I am thrilled to join PGIM to help meet this growing demand for access to institutional alternative investments and to support our wealth management partners in growing their business,” said Carlino.
1 AUM as of June 30, 2023. |
ABOUT PGIM INVESTMENTS
PGIM Investments LLC and its affiliates offer more than 100 funds globally across a broad spectrum of asset classes and investment styles. All products draw on PGIM’s globally diversified investment platform that encompasses the expertise of managers across fixed income, equities, alternatives, and real estate.
ABOUT PGIM
PGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU), a leading global investment manager with more than $1.27 trillion in assets under management as of June 30, 2023. With offices in 18 countries, PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate and alternatives. For more information about PGIM, visit pgim.com.
Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information, please visit news.prudential.com.
This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. The information is not intended as investment advice and is not a recommendation. Clients seeking information regarding their particular investment needs should contact a financial professional.
© 2023 Prudential Financial, Inc. and its related entities. Jennison Associates, Jennison, PGIM Real Estate, PGIM, and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20231003851744/en/
CONTACT: MEDIA
Kylie Scott
+1 973 902 2503
kylie.scott@pgim.com
KEYWORD: NEW JERSEY UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: ASSET MANAGEMENT PROFESSIONAL SERVICES FINANCE
SOURCE: PGIM Investments LLC
Copyright Business Wire 2023.
PUB: 10/03/2023 08:30 AM/DISC: 10/03/2023 08:33 AM
http://www.businesswire.com/news/home/20231003851744/en
