Pramerica Real Estate Investors has hired one of European private equity real estate’s rising stars to become its European chief executive.
The real estate investment management and advisory business of US financial services group, Prudential Financial, revealed today that Eric Adler would join the firm from July 1 having most recently been co-head of Europe for Tishman Speyer alongside Michael Spies.
Adler will oversee offices in Luxembourg, Paris, Milan, Madrid, Lisbon and Istanbul and will report to Allen Smith, chief executive at the Parsippany, New Jersey-based firm.
Prior to Tishman Speyer, Adler was at Morgan Stanley, where he led real estate activities in Germany, France, Italy and Spain. He also had overall operational responsibility for MSREF’s Special Situations Fund II.
In 2007, he was named by PERE magazine on a list of 20 rising stars in the private equity industry while aged 38.
Born in Brussels, he grew up in the US but spent his entire professional career in Europe. After graduating from HEC business school in Paris, he worked as a corporate banker for Credit Lyonnais from 1993 to 1996. Later, he was picked by private equity real estate bigwig Léon Bressler to join Unibail, where he helped raise the company's first real estate opportunity fund.
At the time of publication, one well placed source said: “He has it all. He's multilingual, cultural and gets on with people across European markets.”
Other European-based professionals on that PERE rising stars list included Miltos Kambourides, who is still running Dolphin Capital Partners, Trish Barrigan, senior partner at Benson Elliot, Jason Blank and David Marks at Brockton Capital, Markus Meijer, co-founder and chief executive officer of Meyer Bergman Group, Marty Kandrac, a hotels expert at The Blackstone Group, and Khaled Kudsi, formerly of The Blackstone Group but now with Northwood Investors.