Prudential Real Estate Investors has added Michael Gallagher as a director and portfolio manager to its global real estate securities team. Gallagher, who joined PREI in September, 2012 as an associate portfolio manager for European real estate securities, will now be responsible for all aspects of portfolio management for the fund’s European securities.
In addition, Gallagher has also been added as a manager on the Prudential Global Real Estate Fund (PURAX), Prudential International Real Estate Fund (PUEAX) and the Prudential U.S. Real Estate Fund (PJEAX).
Also, PREI has promoted Rick Romano to managing director for the global real estate securities team where he is responsible for security selection, portfolio strategy and portfolio construction in North America. Romano, who joined PREI in 1998, helped form the global real estate securities team in 2005.
PREI is the real estate investment management and advisory business of Prudential Financial. As of December 31, 2012, PREI managed some $36 billion in estate assets.