PGIM Investments, the asset management arm of Prudential Financial Inc., announced the appointment of its first global head of alternative investments. Dominick Carlino will fill the newly created role as PGIM seeks to expand its alternatives offerings, the company announced.
“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 Stuart Parker, president and CEO of PGIM Investments, in the release.
Earlier this year, PGIM announced the creation of PGIM Private Alternatives, combining its alternative investment groups into a single entity in order to better structure its alternatives offerings. PGIM currently has $310.9 billion in AUM across multiple alternative assets, including real estate, private credit and private equity.
Carlino has 20 years of experience in alternatives. He was previously managing director and head of alternative investments distribution at Merrill Lynch, where he spent nearly 11 years. He also held business development roles at AlphaOne Capital Partners and Morgan Stanley Alternative Investment Partners. He was also previously a research analyst at Susquehanna Financial Group and an investment banker at Fleet Securities.
“Given the current market environment, advisors are increasingly seeking strategies that offer uncorrelated alpha, true diversification and return enhancement within their clients’ portfolios,” Carlino said in the statement. “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.”
Tags: Dominick Carlino, PGIM, PGIM Investments, PGIM Private Alternatives