Michael Pralle likes building things, like turning GE Real Estate into a global real estate investment and finance powerhouse with $77 billion of assets under management. A medley of his hits as president and CEO would have to include the $2.2-billion purchase of 147 Crow Holdings assets and the purchase of Arden Realty for $4.8 billion. But Pralle is ready for new challenges, and in one of his first interviews since taking on the position of president and COO of JE Robert Cos.–he was ensconced for only three weeks when we tracked him down–he talks about the GE departure and legacy and explains where he would like to take JER.
GlobeSt.com: So, were you looking?
Pralle: I had been at GE for 18 years, and a year ago, I began to think about pursuing a more entrepreneurial opportunity in the private equity world. I considered going out on my own and raising a fund, but that would require working capital and would take a certain amount of time to build a global investment business. And that's what I wanted. That's what I had built at GE. I concluded it was better for me to go to a platform that already had traction, and JE Robert already had significant history and significant platforms in Europe and the US. Also, it was building a presence in Russia and Latin America. It had created some very good platforms and a gold-plated list of investors that would enable the firm over the next five to 10 years to become more of a global investment firm. Given my background and track record, I thought I could help.
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