PGIM Hires David Blum as Managing Director of Commercial Real Estate Credit

One of the biggest players in asset management has a new executive overseeing its real estate credit operations. 

PGIM — the $217 billion global asset management powerhouse — announced Tuesday that it has hired David Blum as managing director, where he will oversee high-yield credit investments into U.S. commercial real estate. 

Blum takes control of the debt platform of the world’s second-largest real estate investment management firm. He will be based in the firm’s New York office. 

Bryan McDonnell, head of real estate credit strategies at PGIM, praised Blum’s strength in the high-yield segment of the credit market and noted in a statement that CRE borrowers are looking for adaptable lending solutions, while investors are seeking value-driven debt opportunities — both of which Blum has deep experience in serving. 

“David’s focus on higher-yielding real estate credit directly supports that need, further strengthening our ability to deliver flexible solutions in an area where we’re already active and seeing strong client demand,” he said.  

John Jacobs, head of structured lending for PGIM’s real estate investment group, noted in his own statement that the firm has grown its real estate debt strategies division in the U.S. to $9 billion assets under management, and that Blum’s nearly three decades in the industry will deepen the firm’s foothold in that part of the market. 

“Bringing on David is about continuing that growth, deepening our capabilities, and providing more solutions to borrowers and investors across the market,” he said. 

Blum joins from Prospect Ridge, where he spent the last four years as a managing director with a specialization in CRE debt strategies. He previously worked in credit markets divisions at Angelo Gordon, GTIS Debt Capital Management and LStar Capital. 

Brian Pascus can be reached at bpascus@commercialobserver.com.