PGIM | Intern, Real Estate Private Equity Portfolio Management (all genders) as of Q1 2027, Based in Frankfurt

A GLOBAL LEADING ASSET MANAGER WITH A DIVERSE & INCLUSIVE CULTURE As the Global Asset Management business of Prudential, we’re always looking for ways to improve financial services.

We’re passionate about making a meaningful impact - touching the lives of millions and solving financial challenges in an ever-changing world. We also believe talent is key to achieving our vision and are intentional about building a culture on respect and collaboration.

When you join PGIM, you’ll unlock a motivating and impactful career – all while growing your skills and advancing your profession at one of the world’s leading global asset managers!

Earliest start date: 18th of January, 2027 If you’re not afraid to think differently and challenge the status quo, come and be a part of a dedicated team that’s investing in your future by shaping tomorrow today.

At PGIM, You Can! WHAT YOU WILL DO As an intern in our pan-European Core and Core Plus Portfolio Management team, you will gain hands-on exposure to the management of institutional real estate private equity funds and portfolios across multiple countries and property sectors.

Working closely with experienced portfolio managers, you will contribute to asset- and fund-level analysis, investment decisions, business planning, financing, the evaluation of potential acquisitions and disposals and investor communication.

The role provides a broad perspective across the full real estate investment lifecycle, from acquisition and underwriting through active ownership, financing and eventual disposition.

You will collaborate with colleagues across Portfolio Management, Transactions, Asset Management, Investment Research, Sustainability, Fund Operations, Finance, Tax and Legal.

WHAT YOU CAN EXPECT · Prepare asset- and fund-level cash-flow analysis, budgets and return forecasts using established financial models · Support the review of asset business plans, including leasing and operating assumptions, capital expenditure, financing and valuation scenarios · Contribute to hold/sell analyses and disposition planning by evaluating alternative exit timings, pricing assumptions and their impact on asset and fund-level returns and liquidity · Support the Portfolio Management team in evaluating potential acquisitions and disposals by reviewing the investment rationale, key underwriting assumptions, downside scenarios, risks and suitability for the relevant fund or portfolio · Analyze portfolio performance, including income and capital returns, valuation movements, leverage and the key drivers of performance relative to business plans and investment objectives · Support financing and refinancing analyses, including debt sizing, interest costs, covenant headroom and maturity planning · Contribute to fund-level liquidity planning, cash-flow forecasting, capital deployment and distribution analysis.

· Prepare analyses and presentation materials for portfolio reviews, investor meetings, quarterly reporting and other internal and external discussions · Conduct market, sector and transaction research to assess portfolio positioning and support strategic investment decision · Work with colleagues across Portfolio Management, Transactions, Asset Management, Investment Research, Sustainability, Fund Operations, Finance, Tax and Legal, while ensuring accuracy and consistency across portfolio and asset-level data WHAT YOU WILL BRING · Currently pursuing or recently completed a bachelor’s or master’s degree in real estate, finance, business administration, economics or a related discipline · Previous internship or working-student experience in real estate, private equity, investment banking, corporate finance, consulting, asset management or a related field is preferred · Strong analytical and numerical skills, with an interest in understanding the commercial drivers of real estate investments · A foundational understanding of fundamental finance concepts such as cash flow, yield, leverage, valuation and investment returns · Required: Strong Excel and PowerPoint skills and experience with financial modelling · Fluency in English and German, both written and spoken · Ability to analyze detailed information, identify key issues and communicate conclusions clearly · High attention to detail and a reliable, structured approach to working with financial and operational data · Curiosity, initiative and a willingness to take ownership of defined workstreams · Ability to work effectively in an international, collaborative and deadline-driven environment WHAT WILL SET YOU APART · Demonstrated interest in institutional real estate investing and private markets · Previous experience analyzing real estate cash flows, business plans or investment opportunities · Ability to combine detailed financial analysis with commercial judgement · Confidence in presenting analytical findings clearly and concisely WHY YOU WANT TO JOIN US · Gain hands-on experience within a leading global real estate investment platform, with exposure to institutional funds and portfolios across multiple European markets and property sectors.

· Work closely with experienced investment professionals and contribute to meaningful asset- and fund-level analyses from an early stage. · Build an international network through collaboration with colleagues across European offices and specialist functions.

· Gain insight into institutional fund structures, investor requirements and decision-making processes that are rarely accessible at an early stage of a career.

· We understand that every role has its distinct requirements, so our managers treat their team as individuals, finding the way that works best for them to perform at the top of their game.

· We like to maintain an in-office culture at the centrally located workplace in the heart of Frankfurt which is accessible with S-Bahn, subway or tram.

· With us, you can broaden your expertise and experience. We offer you interesting and varied tasks in an international and multicultural working environment.

· Work is not everything! That's why we regularly organize informative office events, summer parties and Christmas parties. · We support you in all situations!

Together with partner companies as well as mental health first aiders, we offer life coaching, emergency care and individual assistance in challenging life situations.

· We are aware of our responsibility! The real estate industry is responsible for a large part of the global CO2 emissions - PGIM Real Estate has set itself ambitious goals to change something and you can make your contribution!

ABOUT PGIM REAL ESTATE PGIM Real Estate is one of the largest Real Estate managers in the world and one of the nation’s largest full-service commercial, multi-family and agricultural real estate lenders and has been serving the commercial real estate market for over 125 years.

Through our investment, financing, asset management and talent management approach, we engage in practices that ignite positive environmental and social impact, while pursuing activities that strengthen communities around the world.

When you join our team, you’ll find yourself inspired by an inclusive company culture that believes that diversity of all kinds allows us to develop better and more innovative solutions for our client.

ABOUT PGIM – GLOBAL ASSET MANAGEMENT PGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU), a leading global investment manager with nearly US$1.

5 trillion in assets under management as of June 30th, 2026. With offices in 20 countries, PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate and alternatives.

With a history dating back over 140 years, and experience through more than 30 market cycles, PGIM takes a long-term view, not only in our investment philosophy, but also in how we develop our talent.

We want to see our employees excel from their first day with the firm and throughout their tenure with PGIM. We will inspire you, support you, and help you reach your greatest personal and professional aspirations.

If PGIM sounds like the place for you, join us. For more information about PGIM, visit PGIM.com. Prudential Financial, Inc. of the United States is not affiliated with Prudential plc.

which is headquartered in the United Kingdom. OUR COMMITMENT TO DIVERSITY, EQUITY AND INCLUSION Prudential Financial, Inc. is focused on creating a fully inclusive culture, where all employees feel comfortable bringing their authentic selves to work.

We don’t just accept difference—we celebrate it, support it, and thrive on it. At Prudential, employees have a unique opportunity to build their career path by owning their development, their career, and their future.

We encourage employees to hone their skills and explore continued opportunities within Prudential. - Prudential Financial, Inc. of the United States is not affiliated with Prudential plc.

which is headquartered in the United Kingdom. Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America.

Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth.

The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services, some of which may not be available in your area.

We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals.

Visit www.prudential.com to learn more about our values, our history and our brand. Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status , medical condition or any other characteristic protected by law.