PGIM Investments makes senior hire.

PGIM Investments
PGIM Investments this week appointed Dominick Carlino as global head of alternative investments, based in Newark, New Jersey.

In this newly created role, Carlino will be responsible for driving the development and distribution of alternative investments, tailored to wealth management needs around the globe, the firm said in a statement. He will report to Stuart Parker, president and CEO of PGIM Investments.

“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. PGIM specialises in private alternatives investing with $310.9 billion in assets under management across real estate, agriculture, private credit and private equity capabilities.

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, the firm said.

“Given the current market environment, advisors 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 Investments is part of Newark-based PGIM, the $1.27 trillion global investment management business of US life insurance company Prudential Financial. PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate and alternatives.