PGIM Real Estate laid out plans this week to restructure its senior leadership ranks as part of the New Jersey-based manager’s formation of a more formal alternative investments business.
Current PGIM RE president and chief executive officer Eric Adler was appointed president and CEO of PGIM Private Alternatives on September 6. He will be leading the freshly formed business, which combines the firm’s private credit real estate equity and debt, private equity, infrastructure and agriculture investment teams under one branded division, per a coinciding release.
In Adler’s place, the firm appointed its chief operating officer Cathy Marcus and chief investment officer Raimondo Amabile as co-chief executives of PGIM RE, effective October 1 this year. Marcus and Amabile will retain their respective responsibilities as COO and CIO following the appointments.
Atop the co-CEO appointments, PGIM RE will also move four of its senior professionals into new and additional roles on October 1 to round out its global leadership team.
Soultana Reigle, senior portfolio manager of US equity value-add strategies, will replace Marcus as head of US equity; Sebasuabi Ferrante, deputy head of Europe, will be the real estate division’s head of Europe; PGIM RE’s deputy head of Latin America Enrique Lavin will become head of Latin America; and Christina Hill will take on the newly created role of global head of asset management and sustainability.
Both Reigle and Ferrante will maintain their existing portfolio management responsibilities atop their appointments.
Bryan McDonnell, head of US debt and agriculture and chair of global debt, and Benett Theresa, head of Asia Pacific, were unaffected by the changes and will continue working in their current roles.