Ann Caruana

President & Chief Investment Officer
Preservation Equity Fund Advisors

Ann Caruana, with over 20 years of commercial real estate experience, now serves as president and chief investment officer at Preservation Equity Fund Advisors (PEF Advisors). Previously as the senior vice president of acquisitions, she led PEF Advisors’ efforts in preserving affordable multifamily communities nationwide. Caruana leads acquisitions, investor relations, asset management, operations and market research for PEF Advisors’ funds, which she helped establish over the past five years. Under her leadership, PEF Advisors closed a $25 million prototype fund in 2019 and launched a successful $100 million fund in 2022, followed by a third fund in 2023. Her strategic initiatives include developing a proprietary data analytics platform and championing affordable housing preservation. Notably, Caruana closed nearly a billion dollars in acquisitions during the COVID-19 pandemic, earning recognition and promotion for her resilient leadership. She is active in industry organizations and holds an MBA from the University of Miami.