Prudential’s $1 Trillion Asset Manager Bets on Real Estate, Debt
- CEO of unit sees private markets luring more investors
- ‘Don’t be seduced’ by leveraged returns, PGIM’S Hunt says
This article is for subscribers only.
PGIM Chief Executive Officer David Hunt said the $1 trillion asset manager is betting on debt and real estate as pension funds and insurers turn to private investments for better returns.
“Real estate has been one of the real beneficiaries of this search for yield,” Hunt, who runs Prudential Financial Inc.’s investment manager, said in an interview Monday at PGIM’s New York office. “We think people will more and more trade some liquidity for return, and they will probably allocate less to public markets and more to private markets.”