David Skinner Joins PREI

Prudential Real Estate Investors (PREI) announced that David Skinner has joined the firm in a new role to help develop and execute its defined contribution strategy.

Skinner will be responsible for developing a strategy to expand PREI’s real estate investment offerings for defined contribution plans, such as 401(k)s. The plan is expected to include offerings in direct real estate, including office, multi-family, retail and industrial properties, as well as global real estate securities. He will be based in Parsippany, N.J., and will report directly to Lester Lockwood, managing director and co-head of global marketing and client service.

Skinner previously worked for J.P. Morgan Retirement Plan Services as head of institutional defined contribution investment only sales and marketing.

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“David’s strong skill set and extensive experience in the defined contribution space will serve us well as we attempt to introduce and expand the use of real estate investment strategies into in this critical, rapidly growing market,” said Lockwood.

Goldman Sachs Launches India and Korea Equity Funds

Soon after launching the Goldman Sachs Korea Equity Fund, Goldman Sachs Asset Management, L.P. (GSAM) has launched the Goldman Sachs India Equity Fund.

Both portfolios seek to achieve long-term capital appreciation by investing primarily in local Indian and Korean equities. They are offered in A and C Shares, both with $1,000 minimum initial investments, and also offer Institutional and IR Shares. The funds will be managed by local Goldman Sachs Asset Management International equity teams in Singapore. 

“We are excited to provide investors with opportunities to invest in two of the world’s growth markets, India and Korea, via single-country mutual funds,” said Don Gervais, Global Head of Fundamental Equity Product Management at Goldman Sachs Asset Management. “As is the case with our recently-launched Brazil and China equity funds, the India and Korea offerings are created for investors who would like direct exposure to these thriving economies. These funds are complementary to GSAM’s family of emerging and growth markets investment products.”

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