Jonathan Raskin, who has worked on private equity for AT&T’s corporate pension, left recently and joined Prudential’s pension program, a spokeswoman for the company confirmed.
Raskin joined Prudential’s chief investment office as an investment vice president on Dec. 9, the spokeswoman confirmed. He is focused on private equity, she said.
Prudential had about $3.4 billion in private equity as of Sept. 30, 2019, according to Prudential Financial’s third quarter report. That’s up slightly from Dec. 31, 2018, when the company had $3.1 billion in private equity assets, the quarterly report said.
Raskin has been a limited partner in the corporate pension world for many years. He worked at AT&T from 2013 to this year, most recently as director in alternatives. Before, he worked as director in private markets at Verizon’s corporation pension office, called Verizon Investment Management Co., according to his LinkedIn profile.
In 2016, AT&T’s head of private equity, Frank Ranlett, retired, Buyouts previously reported. AT&T last year had a private equity allocation target of 8 percent, with a range of 2 to 12 percent, according to the company’s 2018 annual report.
Meanwhile, the private equity chief of Verizon’s corporate pension, Michael O’Connor, retired over the summer, Buyouts previously reported. He was replaced by Stephen Blundin to lead private equity at Verizon Investment Management Corp.
Action Item: Check out Prudential’s annual report here: https://bit.ly/38DwQiy