PGIM Short Duration High Yield Opportunities Fund

So we have a lot of partnerships.

In fact, the first, uh, one of the first partnerships that we did was with Prudential Real Estate Investors in 1998, and it's now, uh, now called PGIM.

But, um, that was actually our, uh, current CEO, Joe Margolis, that did that, and he was one of those partners back then.

And so Extra Space has been built on partnerships.

He's out in California right now.

We worked on the sales desk together at PGIM, and he was the definition of patient ambition.

Like, he was a guy who came to the desk every single day, brought energy, had his scripts, made his dials, stuck with the plan, had opportunities for promotions, got looks, didn't get promotions, stayed with it.

He didn't try to go somewhere else.

Like, guy's awesome.

I couldn't be more happy for the guy.

We had a short tenure that overlapped while we were grinding out dials together, and I just think Mike DelBello at PGIM is a guy who represents patient ambition to me.

So got to love this one.

Thanks for joining today's call to dive into the depths of the Fed's decision that we got last week, as well as many of the risks on the horizon for the U.S. economy.

I'm joined today by Robert Salkin, who is the chief U.S. economist at PGIM.

And I am so excited to welcome him.

He is one of the early birds, if you will, in calling for rate hikes this year.

So cost allocation is now a politics clock sitting next to your interconnection clock.

Put that next to PGIM real estate selling a permitted 30 megawatt site in Unterschleißheim near Munich, unnamed European buyer, no price disclosed, crystallizing value from planning consent and grid connection, not raw acreage.

common thread, debt quotes, ratepayer fights, and entitled land all price the gate that actually starts rent.

For more information, or if you want to learn how to implement AI into your business, reach out to the AI Consulting Network.

Interesting piece out of the FT this morning.

They quote PGIM.

Our assessment is that Chairman Warsh is the most hawkish person on the FOMC or is at least tied for that position.

And we know classically he has been hawkish going back to his early days in the Fed.

The banks are beginning to hit their concentration limits.

Vantage Data Centers is reportedly seeking as much as $2 billion of revolving loans from institutional investors, including firms such as PIMCO and PGIM.

The proposed financing could be deployed across multiple data center locations rather than being tied to one single project.

The reason is more interesting than the facility itself.

So it's not a short term.

Is this the £100 million refinancing arrangement with PGIM?

That's correct.

Yes.

It has over $1.5 trillion in assets under management.

That's on its PGIM side, and it's also, of course, well-known for being 150-year-old insurance giant.

Well, it just laid out a five-year plan to fundamentally reshape its core business.

So for some insight into that process, I'm joined by Prudential's Chief Financial Officer, Janella Frías.

We make lives better by solving the financial challenges of a changing world.

And when you think about where we are today, the retirement gap in the US, and frankly, the global retirement needs, it's something that we're very passionate about, meeting those needs and helping customers live life longer and live a better life longer, is how we think about it.

So you have got PGIM.

Mm-hmm.

Fabio, today's guest is Nathan Sheets, the global chief economist at Citigroup.

Prior to Citi, he was chief economist at PGIM, fixed income.

So he knows a lot about the world of bonds, which of course is in the news today, September 1st.

I would be remiss if I didn't mention that Nathan is a former Fed baron, meaning he ran an entire division known as International Affairs at the Fed.

She's here to decode the why behind a lot of client actions we've been seeing.

And we have David Blanchette, the head of retirement research for Prudential Financial and portfolio manager at PGIM.

So welcome, everybody.

It's wonderful-