Prudential Real Estate Investors, Parsippany, N.J., has announced the formation of a joint venture with Madison Capital Management LLC to sponsor and manage a group of hedge or private equity funds focused on fractionalized real-estate-related investment interests.The venture, Madison/Prudential Realty Partners LLC, is managed by Madison and by PREI's Global Real Estate Private Equity Group (on behalf of Prudential Investment Management, the asset management business of PREI's parent company, Prudential Financial Inc.). PREI said the venture will also work with PREI's Munich-based operation, TMW Immobilien GmbH, and Madison's European business development office in Paris. The joint venture partners will initially provide $31 million to fund the program. The companies can be found online at http://www.prei.com and http://www.madisoncap.com.

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