9AT: PGIM, INC.

other names

Adviser Profile

As of Date	03/29/2024
Adviser Type - Large advisory firm - An investment adviser (or subadviser) to an investment company
Number of Employees	1,705 2.83%
of those in investment advisory functions	1,420 3.35%
Registration	SEC, Approved, 12/07/1984

AUM^*	1,014,741,753,029 3.14%
of that, discretionary	1,010,455,663,027 2.78%
Private Fund GAV^*	152,178,838,720 -11.24%
Avg Account Size	993,870,473 -11.71%
SMA’s	Yes
Private Funds	138 2
Contact Info	973 xxxxxxx
Websites

Client Types

- Banking or thrift institutions
- Investment companies
- Pooled investment vehicles
- Pension and profit sharing plans
- State or municipal government entities
- Other investment advisers
- Insurance companies
- Sovereign wealth funds and foreign official institutions
- Corporations or other businesses not listed above
- Other

Advisory Activities

- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses
- Selection of other advisers
- Publication of periodicals or newsletters
- Educational seminars/workshops

Compensation Arrangments

- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Performance-based fees

Fund Type	Count	GAV
Fund TypeHedge Fund	Count27	GAV$53,186,582,470
Fund TypeLiquidity Fund	Count2	GAV$334,933,000
Fund TypePrivate Equity Fund	Count17	GAV$4,348,531,067
Fund TypeReal Estate Fund	Count4	GAV$3,763,602,052
Fund TypeSecuritized Asset Fund	Count63	GAV$26,035,039,764
Fund TypeOther Private Fund	Count25	GAV$64,510,150,367

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser TCW ASSET MANAGEMENT COMPANY LLC	Hedge Fund3.9b	Liquidity Fund-	Private Equity Fund146.7m	Real Estate Fund-	Securitized Asset Fund4.3b	Venture Capital Fund-	Other Fund848.2m	Total Private Fund GAV9.2b	AUM64.2b	#Funds33
Adviser NUVEEN ASSET MANAGEMENT, LLC	Hedge Fund2.5b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund4.3b	Venture Capital Fund-	Other Fund652.3m	Total Private Fund GAV7.4b	AUM239.6b	#Funds30
Adviser EATON VANCE MANAGEMENT	Hedge Fund1.3b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund2.5b	Venture Capital Fund-	Other Fund4.1b	Total Private Fund GAV7.9b	AUM63.0b	#Funds14
Adviser GAM USA INC.	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund242.6m	Venture Capital Fund-	Other Fund-	Total Private Fund GAV242.6m	AUM983.5m	#Funds2
Adviser BARINGS LLC	Hedge Fund265.9m	Liquidity Fund-	Private Equity Fund1.2b	Real Estate Fund2.7b	Securitized Asset Fund14.9b	Venture Capital Fund-	Other Fund3.3b	Total Private Fund GAV22.4b	AUM307.7b	#Funds64
Adviser ANTARES CAPITAL ADVISERS LLC	Hedge Fund10.8b	Liquidity Fund-	Private Equity Fund2.2b	Real Estate Fund-	Securitized Asset Fund11.7b	Venture Capital Fund-	Other Fund-	Total Private Fund GAV24.6b	AUM37.1b	#Funds27
Adviser GUGGENHEIM PARTNERS INVESTMENT MANAGEMENT, LLC	Hedge Fund3.1b	Liquidity Fund-	Private Equity Fund180.1m	Real Estate Fund-	Securitized Asset Fund4.0b	Venture Capital Fund-	Other Fund-	Total Private Fund GAV7.3b	AUM208.8b	#Funds52
Adviser STONE RIDGE ASSET MANAGEMENT LLC	Hedge Fund4.8b	Liquidity Fund-	Private Equity Fund279.5m	Real Estate Fund-	Securitized Asset Fund6.1b	Venture Capital Fund-	Other Fund-	Total Private Fund GAV11.1b	AUM25.0b	#Funds31
Adviser SOUND POINT LUNA LLC	Hedge Fund22.1m	Liquidity Fund-	Private Equity Fund503.2m	Real Estate Fund-	Securitized Asset Fund10.4b	Venture Capital Fund-	Other Fund-	Total Private Fund GAV11.0b	AUM13.8b	#Funds27
Adviser NAPIER PARK GLOBAL CAPITAL LLC	Hedge Fund775.3m	Liquidity Fund-	Private Equity Fund1.7b	Real Estate Fund-	Securitized Asset Fund6.9b	Venture Capital Fund-	Other Fund-	Total Private Fund GAV9.4b	AUM11.7b	#Funds29

Brochure Summary

Overview

PGIM Generally PGIM Real Estate is the real estate investment advisory unit of PGIM, Inc. (“PGIM”), an SEC registered investment adviser organized as a New Jersey corporation. Certain of its operations are conducted through PGIM Real Estate (UK) Limited (“PGIM Real Estate (UK)”), a company incorporated in England (registration number 03205768), and through PGIM Luxembourg S.A. (“PGIM Luxembourg”), which is organized as a company incorporated in the Grand Duchy of Luxembourg (registered number B28214). PGIM Real Estate (UK) and PGIM Luxembourg are both indirect, wholly owned subsidiaries of PGIM and are SEC registered investment advisers. When we use the terms “we,” “us” and “our” in this brochure, we are referring to PGIM Real Estate. In addition, any references to “our employees” or “our officers” mean officers or employees of PGIM, PGIM Real Estate (UK), PGIM Luxembourg and their affiliates who work in PGIM Real Estate. In addition to PGIM Real Estate, the other advisory units within PGIM are PGIM Fixed Income (an adviser primarily focused on public fixed income investments), PGIM Private Capital (the corporate private credit business unit of PGIM) and PGIM Institutional Advisory & Solutions (a provider of multi-asset class advisory services). Each of PGIM Fixed Income, PGIM Private Capital and PGIM Investment Advisory & Solutions has one or more separate brochures that have been filed with the SEC and provide information about the applicable advisory business. In September 2023, PGIM announced that PGIM Real Estate and PGIM Private Capital would be operated under a new unified platform called PGIM Private Alternatives to bring together PGIM’s private alternatives capabilities in order to more effectively provide global investors with a cohesive set of investment solutions across private credit, real estate equity and debt, private equity, infrastructure, and agriculture. PGIM was formed in June 1984 and was registered with the SEC as an investment adviser in December 1984. PGIM’s predecessor companies began managing fixed income portfolios for affiliates in 1875. In addition to being a registered investment adviser, PGIM, Inc. is also registered with the U.S. Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator and is a member of the National Futures Association. PGIM Real Estate (UK) was incorporated in 1996 and is authorized and regulated by the UK Financial Conduct Authority (“FCA”) as an Alternative Investment Fund Manager and permitted to manage and market discretionary mandates,provide investment advice, and receive and transmit orders in relation to financial instruments. PGIM Luxembourg was founded in 1988 and is authorized and regulated by the Luxembourg Commission de Surveillance du Secteur Financier (“CSSF”) as an Alternative Investment Fund Manager for the purposes of the European Alternative Investment Fund Managers Directive (“AIFMD”). In addition to managing and advising alternative investment funds, its authorization by the CSSF allows it to perform discretionary portfolio management services, provide investment advice, and receive and transmit

orders in relation to financial instruments, in accordance with Article 5, paragraph 4 of the Law of 12th July 2013 of alternative investment managers. PGIM, PGIM Real Estate (UK) and PGIM Luxembourg, along with their affiliates referenced herein are indirect, wholly owned subsidiaries of Prudential Financial, Inc., a publicly held company (“Prudential Financial”) (NYSE Ticker: PRU) headquartered in the State of New Jersey, U.S.A. None of Prudential Financial, PGIM, PGIM Real Estate (UK), PGIM Luxembourg or any of their affiliates referenced herein is affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. PGIM Real Estate PGIM Real Estate is a global real estate investment advisor,.headquartered in Newark, New Jersey. We have offices across the United States as well as in Amsterdam, Frankfurt, London, Luxembourg, Munich, Milan, Paris, Mexico City, Hong Kong, Seoul, Singapore, Shanghai, Sydney and Tokyo. As of December 31, 2023, PGIM Real Estate managed approximately $89.9 billion in gross assets $57.3 billion (net) on behalf of more than 900 clients worldwide. Of this net amount, approximately $56.9 billion is managed on a discretionary basis, and $0.4 billion (net) is managed on a non-discretionary basis. The investment strategies that we employ for our clients span private real estate, private real estate debt and publicly traded real estate securities across the risk and return spectrum (from core through core plus and value add to opportunistic) and geographically across the United States, Asia Pacific, Europe and Latin America. Our investment products generally comprise separately managed accounts and open- and closed-ended commingled private funds and are typically structured as limited partnerships, private REITs, insurance company separate accounts and other tax-efficient vehicles. We also provide discretionary and non-discretionary investment advisory services to affiliated and unaffiliated clients both directly, through express contractual relationships, and indirectly, pursuant to sub-advisory arrangements with affiliated and unaffiliated investment advisers. In addition to offering investment products and advisory services, we also prepare research, reports, and investment papers dealing with investment matters that are distributed to clients, certain prospective clients and affiliates. Our business does not include the private commercial real estate finance business carried on by PGIM Real Estate Finance, LLC (“PGIM REF”), which is an affiliate of PGIM but is not a registered investment adviser and does not provide investment advice regarding securities to any PGIM clients. Through an internal arrangement with PGIM Real Estate, PGIM REF sources and originates commercial real estate loans on behalf of certain accounts managed by PGIM Real Estate. Several officers of PGIM REF are also officers of PGIM and provide services to PGIM Real Estate in their capacities as officers of PGIM that are separate and distinct from the services they provide as officers of PGIM REF.

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PGIM, INC.

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