Blackstone Credit & Insurance could help push the firm to $2 trillion AUM.
The duo will retain their current duties under former CEO Eric Adler, who will helm newly formed PGIM Private Alternatives.
The economist was a key player at Columbia Threadneedle.
He will succeed Rupal Bhansali, who is leaving to start her own firm.
Leo Grohowski will retire at the end of the year after 16 years leading the firm’s investment strategy.
Labor and mineral shortages, plus other problems, stand in the way, a bank study says.
The firm aims to raise $1.2 billion to invest in the country’s climate infrastructure.