Title: Senior Vice President-Alternative Assets Group
Location: United States-New Jersey-Newark
Other Locations:
Company Description
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with over $1.0 trillion of assets under management, has operations in the United States, Asia, Europe, and Latin America. Prudential''s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential''s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century.
Position Description
Prudential's Alternative Assets Group is a unit of the Global Chief Investment Officer organization, which conducts asset and liability management and portfolio construction for all of Prudential's domestic and international business operations. The Alternative Assets Group is responsible for managing approximately $5.0 billion in assets, comprised of private equity and hedge funds, as well as real estate and other investments in real assets.
The Alternative Assets Group is seeking a senior investment professional to lead its private equity investing activities. The private equity portfolio includes investments in buyout, mezzanine, venture capital and distressed funds and has a net asset value of approximately $3.0 billion. The position reports directly to the head of the Alternative Assets Group. The candidate will play a leadership role in Prudential's alternatives strategy and be expected to:
* Serve as Prudential's private equity specialist and be informed about current and developing trends in the sector;
* Manage Prudential's core private equity relationships, including serving on advisory boards;
* Identify and evaluate funds for possible investment across various strategies;
* Source and underwrite co-investments on an opportunistic basis;
* Work closely with the ALM portfolio managers to optimize Prudential's private equity portfolio;
* Develop and implement best-in-class" policies, procedures and guidelines;
* Lead private equity-related analytical projects;
* Work with counsel to negotiate the terms of LPA's and side letters, as appropriate;
* Manage junior investment professionals.
* Minimum of 15-20 years of prior investment experience; insurance company asset management experience preferred
* Minimum of 5 years investing in private equity funds; co-investment track record desirable
* Credit training a plus
* Knowledge of partnership documentation, accounting and taxation
* Strong interpersonal and relationship management skills
* Strong verbal and written communications skills
* Strong decision making and negotiating skills
* Strong project management skills
* Ability to manage multiple projects simultaneously
* Prior experience managing people
* MBA or equivalent degree required; CFA or CAIA preferred