Mike McRoberts Returns to PGIM Real Estate as Head of Agency Lending
People | Jan 22, 2025 | PGIM Inc
In a noteworthy development, Mike McRoberts has rejoined PGIM Real Estate to lead the Agency Lending platform. His return follows the transition of Kelly Follain to a new role as executive vice president and head of Multifamily at Fannie Mae. McRoberts' leadership, credited with previously growing PGIM's Agency platform production substantially, is expected to bring stability and continuity. PGIM Real Estate, known for its robust real estate investment advisory capability, celebrated an annual production of over $4.2 billion in 2024. This management change places Stephanie Wiggins and Rick Del Roio in key continued roles to maintain growth and stability in the agency lending operations. With $212 billion in gross assets under management, PGIM Real Estate is a significant player in the industry, renowned for its expansive expertise across various real estate and investment sectors globally.
Sectors
- Real Estate Investment
- Asset Management
- Financial Services
Geography
- United States – PGIM Real Estate, a significant player in the real estate and financial services sector, operates primarily out of the United States with a global reach.
Industry
- Real Estate Investment – The article discusses PGIM Real Estate's operations and leadership, highlighting its significant role in real estate investment and lending.
- Asset Management – PGIM Real Estate is part of PGIM, a prominent global asset management firm, managing a vast portfolio across various asset classes, including real estate.
- Financial Services – The operations of PGIM, including its Agency Lending platform and investment advisory services, are situated within the broader financial services sector.
Financials
- $4.2 billion – PGIM Real Estate's Agency platform's annual production for 2024.
- $9.6 billion – Peak production achieved by PGIM Real Estate's Agency platform during McRoberts' previous tenure.
- $212 billion – Total gross assets under management by PGIM Real Estate.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| PGIM Real Estate | Agency Lending Leader | Company | A business unit of PGIM, involved in real estate investment and debt origination. |
| Mike McRoberts | Incoming Head of Agency Lending | Person | Rejoins PGIM to lead the Agency Lending platform, known for his past contributions. |
| Kelly Follain | Former Head of Agency Lending, Incoming EVP at Fannie Mae | Person | Transitioning to head of Multifamily at Fannie Mae. |
| PGIM | Parent Company | Company | Global asset management arm of Prudential Financial, involved in diverse investment strategies. |
| Fannie Mae | New Employer of Kelly Follain | Company | A government-sponsored enterprise focusing on residential mortgage lending. |
| Bryan McDonnell | Chair of Global Debt and Agriculture | Person | Chair responsible for global debt and agricultural investment strategies at PGIM Real Estate. |
| Stephanie Wiggins | Head of Production for Agency Lending | Person | Plays a key role in driving the growth of PGIM's Agency Lending. |
| Rick Del Roio | Head of Credit and Chief Underwriter | Person | Maintains role overseeing credit and underwriting for Fannie Mae and Freddie Mac loans. |