Prudential seeks secondaries professionals

The US's largest life insurer wants to hire a senior VP and a VP to work in its alternative assets group.

Prudential Financial, the US’s largest life insurer, wants to hire senior investment professionals with secondaries experience in its Newark headquarters.

The firm’s alternative assets group is seeking a senior vice-president and a vice-president of private equity funds, co-investments and secondaries, according to two job postings on its website.

The positions will report to the head of private equity and co-investments and involve originating primary private equity fund, co-investment and secondaries opportunities; leading the deal team in evaluating and underwriting such investments; and working with counsel to negotiate the terms of limited partnership agreements and side letters.

The senior VP and the VP must have more than 12 years and eight years of respective experience across private equity funds, co-investments and secondaries, as well as knowledge of partnership documentation, accounting and taxation, among other requirements. Candidates with an MBA or equivalent degree or CFA are preferred.

Interested candidates can apply via Prudential’s website.

In May Prudential Capital, which is the Chicago-headquartered private placement investment arm of Prudential Financial, emerged as the backer of an attempt to restructure Fenway Partners’ 1998- and 2006-vintage funds. That deal fell apart in June after investors were unhappy with pricing, as Secondaries Investor reported.

Prudential’s alternative assets group manages more than $9 billion in assets, comprising private equity and hedge funds, as well as real estate and real assets, according to its website. Prudential Financial has more than $1 trillion in assets under management.