Speaking of Alternatives

• …Let’s Talk Asset-Based Financing with Edwin Wilches

  In this episode, Edwin Wilches, Co-Head of Securitised Products at PGIM, joins Keshav Rajagopalan, to explore the dynamic and fast-evolving world of Asset-Based Finance (ABF). As traditional boundaries between public and private credit continue to blur, they discuss how ABF is emerging as a powerful tool for financing the real economy, offering institutional investors new avenues for diversification, yield, and portfolio resilience. Subscribe to Speaking of Alternatives on your favourite podcast platform. Key Takeaways: • Regulatory shifts and evolving market structures are driving growth in the US, Europe, and beyond – [06:00] • Institutional investors are turning to ABF for diversification, enhanced yield, and scalable solutions - [07:00] • Capital demand is rising in areas such as AI infrastructure, data centers, and fund finance. – [15:00] • Contractual cash flows are central to ABF’s appeal for seeking to improve risk-adjusted portfolio returns – [22:00] *The views expressed are those of the speakers at the time of recording and may not reflect their current opinions. This content is not investment advice.* Learn More: • @PGIM on X: https://twitter.com/pgim • @PGIM on Instagram: https://www.instagram.com/pgim/ • PGIM on LinkedIn: https://www.linkedin.com/company/pgim Shareables: “We’re financing the real economy. That’s what makes this space so exciting—it’s not just about returns, it’s about impact.”— Edwin Wilches, Co-Head of Securitised Products at PGIM “Contractual cash flows are the foundation of ABF. That’s what makes it compelling for insurers, pensions, and other institutions.” — Edwin Wilches, Co-Head of Securitised Products at PGIM “Lending where there is a supply-demand imbalance of capital -- that's where compelling risk-adjusted returns could be found.— Edwin Wilches, Co-Head of Securitised Products at PGIM

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• …Let’s Talk Alternatives in Global Wealth with Stuart Parker and Dominick Carlino

  Laurie Chan is joined by Stuart Parker, Head of Global Wealth at PGIM, and Dominick Carlino, Global Head of Alternative Investments for Global Wealth at PGIM. Together, they explore the intersection of private wealth and alternative investments, offering perspectives on the ways investors are broadening portfolios beyond traditional markets. Their discussion covers the trends driving growth, the importance of education, and how innovation is reshaping access. Subscribe to Speaking of Alternatives on your favourite podcast platform.   Key Takeaways: • Private Wealth Is Driving the Next Wave of Growth in Alternatives – [05:00] • Democratisation of Private Markets Is Expanding Access – [09:00] • Education Is a Key Enabler for Integrating Alternatives into Portfolios – [08:00] • Product Innovation and Evergreen Structures Are Reshaping the Landscape – [14:00] *The views expressed are those of the speakers at the time of recording and may not reflect current opinions. This content is not investment advice.*   Learn More: • @PGIM on X: https://twitter.com/pgim • @PGIM on Instagram: https://www.instagram.com/pgim/ • PGIM on LinkedIn: https://www.linkedin.com/company/pgim   Shareables: “The ability to offer high-net-worth clients the liquidity and transparency of alternatives is exactly where asset managers are going.” — Stuart Parker, Head of Global Wealth at PGIM “Alternatives are surging powered by product innovation, supportive policy and investor appetite." — Dominick Carlino, Global Head of Alternative Investments for Wealth at PGIM “Education is key. We’ve moved from ‘what are alternatives’ to ‘how do I incorporate them into a portfolio?” — Dominick Carlino, Global Head of Alternative Investments for Wealth at PGIM “The convergence of public and private markets is creating a continuum of opportunities for investors to access value across liquidity profiles.” — Dominick Carlino, Global Head of Alternative Investments for Wealth at PGIM

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• …Let’s Talk Defined Contribution with Josh Cohen, Managing Director of PGIM’s DC Solutions

  Josh Cohen, Managing Director of PGIM’s DC Solutions team, offers insights into the rapidly evolving defined contribution landscape and how alternatives may play an increasingly important role in this space.   Keshav and Josh discuss the compelling arguments for integrating alternative assets into DC plans. As global policymakers evaluate the role of alternative investments in customised solutions, they consider the challenges that must be addressed.   Subscribe to Speaking of Alternatives on your favourite podcast platform.   Key Takeaways:   ● Preserving Financial Futures in DC. [3:01] ● Policy Initiatives & Alternative Investments in DC. [7:53] ● DC Headwinds Include Operational Complexities & an Environment of Litigation.  [11:37] ● Alternative Allocations in Defined Contributions. [18:53] ● Summing Up: Key Takeaways. [23:56]   *The views expressed herein are those of the speaker at the time the comments were made and may not be reflective of their current opinions and are subject to change without notice, and should not be considered investment advice.   Find Out More About Alternative Investing:   The Accidental Plan Sponsor Podcast: The Down Under Edition [email protected] @PGIM on X @PGIM on Instagram PGIM on LinkedIn   Shareables:   “We are doing a lot of this for the endworkers, savers, and retirees, and we know the solutions that we’re working towards have a meaningful impact on their retirement readiness.” — Josh Cohen, Managing Director of PGIM’s DC Solutions team #PGIMPodcasts #investing   “The preferred application for investments in DC plans, specifically for alternative assets, is in multi-asset strategies.” — Josh Cohen, Managing Director of PGIM’s DC Solutions team #PGIMPodcasts #investing #investing #alternativeinvesting   “We need to be careful about bucketing all alternative assets into one segment. They impact a portfolio differently.” — Josh Cohen, Managing Director of PGIM’s DC Solutions team #PGIMPodcasts #investing #investing #institutionalnvesting

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• …Let’s Talk Global REIT Securities with Rick Romano, Head of PGIM Global Real Estate Securities

  …Let’s Talk Global REIT Securities with Rick Romano, Head of PGIM Global Real Estate Securities   Rick Romano, Head of PGIM Global Real Estate Investment Trust Securities, offers insights about the multifaceted nature of hybrid real estate securities and the potential benefits of REITS in investment portfolios.   Keshav and Rick highlight how global real estate securities can offer a compelling value proposition for investors. This diverse investment vehicle provides a low barrier to entry into real estate, an asset class distinctly  positioned at the convergence of public and private markets.   Subscribe to Speaking of Alternatives on your favourite podcast platform.   Key Takeaways:   ● The Global Real Estate Securities landscape. [3:16] ● Why now for REITS?. [5:03] ● Geographic Shift: Reallocation from the U.S. to Europe? [8:25] ● The Headwinds and Tailwinds of Global Real Estate Investments. [10:18] ● The Convergence of Public & Private Real Estate Markets. [18:19]   *The views expressed herein are those of the speaker at the time the comments were made and may not be reflective of their current opinions and are subject to change without notice, and should not be considered investment advice. This content should not be construed as investment advice or an offer to purchase or sell any security.   Find Out More About Alternative Investing:   PGIM Private Alternatives [email protected] @PGIM on X @PGIM on Instagram PGIM on LinkedIn   *Source [10:48]: DrWealth.com, 10 years of REIT performance, as of 19 June 2025   Shareables:   “Real Estate touches on all aspects of the economy, globally.” — Rick Romano, Head of PGIM Global Real Estate Securities #PGIMPodcasts #investing #valueadd   “Historically, commercial real estate was cyclical. Now, on the listed markets, you have these big areas of opportunity that are not very cyclical.” — Rick Romano, Head of PGIM Global Real Estate Securities #alternativeinvesting #PGIMPodcasts   “We went from U.S. exceptionalism quickly to U.S. uncertainty and people wanting to move out of that space.” — Rick Romano, Head of PGIM Global Real Estate Securities #alternativeinvesting #valueadd   “Real Estate doesn’t sit in the centre of the tariff war.” — Rick Romano, Head of PGIM Global Real Estate Securities #investing #institutionalnvesting   “With supply muted over the next few years, we think we can see some good revenue growth acceleration in more traditional property types.”— Rick Romano, Head of PGIM Global Real Estate Securities #investing #alternativeinvesting   “It can balance out the volatility in your real estate portfolio by marrying the public and private together.” — Rick Romano, Head of PGIM Global Real Estate Securities #PGIMPodcasts #alternativeinvesting #valueadd

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• …Let’s Talk Healthcare Equity Investing with Dan Matviyenko, Portfolio Manager with Jennison

  Dan Matviyenko, Healthcare Portfolio Manager at Jennison, offers insights and strategies on navigating the complex and dynamic landscape of healthcare equity investing.   Laurie Chan, PGIM’s U.S. Head of Alternative Solutions, and Daniel explore healthcare equity, focusing on macroeconomic forces, supply chain vulnerabilities due to trade tensions, the role of AI, and generating alpha from long and short positions.   Subscribe to Speaking of Alternatives on your favourite podcast platform.   Key Takeaways:   ● Healthcare Equity Investing offers a Spider Web of Opportunity. [3:04] ● The Role of Robotics and AI in Healthcare. [4:55] ● Trade tensions and Supply Chain Vulnerabilities. [8:16] ● Sizing Healthcare Sectors and Subsectors. [10:29] ● Alpha creation in Long and Short positions. [15:39] ● Three Key Insights for Healthcare Investors. [30:19]   *The views expressed herein are those of the speaker at the time the comments were made and may not be reflective of their current opinions and are subject to change without notice, and should not be considered investment advice.   Find Out More About Alternative Investing:   PGIM Private Alternatives [email protected] @PGIM on X @PGIM on Instagram PGIM on LinkedIn   Shareables:   “Robotic surgery will come to dominate the operating room.” — Dan Matviyenko, Healthcare Portfolio Manager of Jennison #PGIMPodcasts #valueadd   “[On tariffs] Healthcare can manage these increased costs much better than most companies out there.” — Dan Matviyenko, Healthcare Portfolio Manager of Jennison #PGIMPodcasts #alternativeinvesting   “The United States has two industries where we are the world leader. One is obviously tech, but the second one is healthcare.” — Dan Matviyenko, Healthcare Portfolio Manager of Jennison #alternativeinvesting #investing #PGIMPodcasts   “Subsector selection, size, and timing are very important to what we do.” — Dan Matviyenko, Healthcare Portfolio Manager of Jennison #institutionalnvesting #valueadd   “Sizing the investment at the right point in time is actually more important than picking the right investment.” — Dan Matviyenko, Healthcare Portfolio Manager of Jennison #investing #alternativeinvesting   “We look at our short book as an absolute return vehicle. It’s not a hedge.”— Dan Matviyenko, Healthcare Portfolio Manager of Jennison #investing #alternativeinvesting

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