PGIM Real Estate raises £328m for European Core Plus Strategy
PGIM Real Estate has raised over $400m (£327m) for its European Core Plus strategy in less than six months.
The $204.4bn real estate investment management business set up the open-ended strategy last year, targeting Europe’s most liquid markets.
The strategy will invest in sectors such as last mile logistics, senior and student housing and offices.
PGIM Real Estate has raised over $400m (£327m) for its European Core Plus strategy in less than six months.
The $204.4bn real estate investment management business set up the open-ended strategy last year, targeting Europe’s most liquid markets.
The strategy will invest in sectors such as last mile logistics, senior and student housing and offices.
The strategy will also target tactical opportunities in mispriced sectors, such as hotels or self-storage.
Senior portfolio manager Jocelyn de Verdelon said: “In this high inflation environment and amid market dislocations, investors increasingly want strategies that are able to distribute sustainable income and generate alpha.
“Our European Core Plus strategy aims to do just that, by focusing on high conviction investment themes across the true core-plus universe to deliver growing income combined with value creation.
“Our experience in alpha-driven strategies provides a strong platform to create another high-quality vehicle that aims to capture compelling investment opportunities in Europe.”
Verdelon said that the strategy is key to PGIM Real Estate’s European Core Plus offering, which invested more than €1.8bn (€1.6 bn) in previous vehicles, including two closed end funds.
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