PGIM Investments, part of PGIM, the $1.27 trillion global investment management business of Prudential Financial, on Tuesday said it appointed Dominick Carlino as global head of alternative investments. He will report to Stuart Parker, CEO and president of PGIM 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.
“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,” Parker said.
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, advisers 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,” Carlino said.
PGIM is a leader in private alternatives investing and continues to bolster its alternatives franchise, most recently through the formation of PGIM Private Alternatives, a new business unit that 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 and acquisition of Montana Capital Partners in 2021.