CHICAGO--(BUSINESS WIRE)--PGIM Real Estate has appointed Christy Lockridge as the business’s first chief diversity, equity and inclusion officer, based in Chicago. PGIM Real Estate is the $209.3 billion real estate business of PGIM, the $1.5 trillion global asset management business of Prudential Financial, Inc. (NYSE: PRU).
Lockridge will build upon the firm’s expanded commitment to advancing diversity, equity and inclusion (DEI) and will lead the business’s first formal DEI office. As a 30-year industry veteran, most recently serving as head of Debt Originations for the Midwest, she demonstrated innate passion and commitment while also acting as the co-lead for PGIM Real Estate’s DEI Talent Management efforts over the last year. Lockridge reports to Marcia Diaz, managing director, head of U.S. Core Debt, who is also PGIM Real Estate’s Global Management Council executive sponsor for DEI initiatives. Lockridge will work in conjunction with two seasoned veterans, Stephanie Katz, director of Strategic Initiatives for DEI, and Ivy Tsui, director of Program Management for DEI.
“Appointing Christy was a critical step in our mission to cultivate an environment that celebrates varied experience, backgrounds and perspectives,” said Eric Adler, president and CEO of PGIM Real Estate and chair of the DEI Advisory Council. “We are confident that her leadership will guide our efforts toward achieving our DEI goals and continue to build on the progress we have made.”
The PGIM Real Estate DEI Office led by Lockridge will focus on the continued refinement and implementation of PGIM Real Estate’s internal and external diversity, equity and inclusion strategy in support of five key areas of impact: Talent, Culture, Industry, Investing, and Community. The team will work closely with PGIM Real Estate’s Inclusion & Leadership Network, a global cross-section of professionals that aims to promote an equitable and inclusive workplace for all, PGIM Real Estate’s global environmental, social and governance (ESG) team, and PGIM’s DEI Office. Lockridge will also serve as vice chair of the governing DEI Advisory Council.
“PGIM Real Estate’s commitment to diversity, equity and inclusion will drive progress in our industry for years to come,” said Lockridge. “I am honored to be a part of an organization that is committed to building an inclusive culture through the promotion of diversity and equity across our global offices and businesses. I will work judiciously to build toward our diversity goals and drive sustainable change in our communities, and for employees and our clients.”
PGIM Real Estate’s commitment extends into the communities in which it operates and invests through social and philanthropic engagement. Through multi-year partnerships with KIPP and YouthBuild, PGIM Real Estate works with youth in underserved communities to better access training, education and career opportunities. The firm prioritizes diversified recruitment efforts through partnerships with external early talent organizations such as Girls Who Invest, Project Destined, Sponsors for Educational Opportunity, ICSC Foundation, and Management Leadership for Tomorrow.
ABOUT PGIM REAL ESTATE
As one of the largest real estate managers in the world with $209.3 billion in gross assets under management and administration,1 PGIM Real Estate strives to deliver exceptional outcomes for investors and borrowers through a range of real estate equity and debt solutions across the risk-return spectrum. PGIM Real Estate is a business of PGIM, the $1.5 trillion global asset management business of Prudential Financial, Inc. (NYSE: PRU).
PGIM Real Estate’s rigorous risk management, seamless execution, and extensive industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing,2 and the deep local expertise of professionals in 32 cities globally. Through its investment, financing, asset management, and talent management approach, PGIM Real Estate engages in practices that ignite positive environmental and social impact, while pursuing activities that strengthen communities around the world. For more information visit pgimrealestate.com.
PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), ranks among the top 10 largest asset managers in the world3 with more than $1.5 trillion in assets under management as of Dec. 31, 2021. With offices in 17 countries, PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate and alternatives. For more information about PGIM, visit pgim.com.
Prudential Financial, Inc. (PFI) of the United States is not 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. For more information, please visit news.prudential.com.
1 As of Dec. 31, 2021. AUM reflected as gross. Net AUM is $137.9 billion and AUA is $45.9 billion.
2 Includes legacy lending through PGIM’s parent company, Prudential Financial, Inc.
3 PGIM is the investment management business of Prudential Financial, Inc. (PFI); PFI is the 10th largest investment manager (out of 477 firms surveyed) in terms of global assets under management based on Pensions & Investments’ Top Money Managers list published on May 31, 2021. This ranking represents global assets under management by PFI as of Dec. 31 2020.
For Professional Investors only. All investments involve risk, including the possible loss of capital.
PGIM is the primary asset management business of Prudential Financial, Inc (PFI). PGIM Real Estate is PGIM’s real estate investment advisory business and operates through PGIM, Inc., a registered investment advisor. Registration as a registered investment advisor does not imply a certain level of skill or training. PGIM, their respective logos as well as the Rock symbol are service marks of PFI and its related entities, registered in many jurisdictions worldwide. PFI of the United States is not 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.
This material is for informational purposes and sets forth our views as of the date of this release. The underlying assumptions and our views are subject to change.
In the United Kingdom, information is issued by PGIM Limited with registered office: Grand Buildings, 1-3 Strand, Trafalgar Square, London, WC2N 5HR. PGIM Limited is authorised and regulated by the Financial Conduct Authority (“FCA”) of the United Kingdom (Firm Reference Number 193418). In the European Economic Area (“EEA”), information is issued by PGIM Real Estate Luxembourg S.A. with registered office: 2, boulevard de la Foire, L-1528 Luxembourg. PGIM Real Estate Luxembourg S.A. is authorised and regulated by the Commission de Surveillance du Secteur Financier (the “CSSF”) in Luxembourg (registration number A00001218) and operating on the basis of a European passport. In certain EEA countries, information is, where permitted, presented by PGIM Limited in reliance of provisions, exemptions or licenses available to PGIM Limited under temporary permission arrangements following the exit of the United Kingdom from the European Union. These materials are issued by PGIM Limited and/or PGIM Real Estate Luxembourg S.A. to persons who are professional clients as defined under the rules of the FCA and/or to persons who are professional clients as defined in the relevant local implementation of Directive 2014/65/EU (MiFID II). PGIM Real Estate Germany AG is a German Capital Management Company with a respective license pursuant to sec. 20, 22 of the German Capital Investment Act (Kapitalanlagegesetzbuch–KAGB). In case PGIM Real Estate Germany AG markets or distributes units or shares in external investment funds, i.e., investment funds for which PGIM Real Estate Germany AG does not provide the collective portfolio management within the meaning of Directive 2011/61/EU or, respectively, the KAGB, such marketing or distribution is performed in accordance with sec. 20 para. 3 no. 6 KAGB. PGIM Real Estate Germany AG is not responsible for the collective portfolio management (including portfolio and risk management) within the meaning of Directive 2011/61/EU or, respectively, the KAGB, with regard to the respective investment funds in this case. It is also not responsible for the content of any marketing material (including prospectus, Offering Memoranda, etc.) provided by the fund manager or other third parties. PGIM Real Estate Germany AG will not examine or assess the individual situation of any prospective investor and does not provide any personal recommendations, including recommendations related to tax issues, to prospective investors relating to transactions in the respective investment funds. Where relevant, prospective investors should seek advice from qualified third parties before they take an investment decision. The information provided in the document is presented by PGIM (Singapore) Pte. Ltd., a Singapore investment manager that is registered with, and licensed by the Monetary Authority of Singapore. In Hong Kong, information is provided by PGIM (Hong Kong) Limited, a regulated entity with the Securities & Futures Commission in Hong Kong to professional investors as defined in Section 1 of Part 1 of Schedule 1 (paragraph (a) to (i) of the Securities and Futures Ordinance (Cap. 571). In Japan, information is issued by PGIM Real Estate (Japan) Ltd., a Japanese asset manager that is registered with the Kanto Local Finance Bureau of Japan. In Australia, information is issued by PGIM (Australia) Pty Ltd (“PGIM Australia”) for the general information of its “wholesale” customers (as defined in the Corporations Act 2001). PGIM Australia is a representative of PGIM Limited, which is exempt from the requirement to hold an Australian Financial Services License under the Australian Corporations Act 2001 in respect of financial services. PGIM Limited is exempt by virtue of its regulation by the Financial Conduct Authority under the laws of the United Kingdom and the application of ASIC Class Order 03/1099. The laws of the United Kingdom differ from Australian laws.
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