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Alternative Assets  + Real Assets  + Real Estate  |  October 11, 2023
PGIM Launches Venture to Drive Tech Innovation in Real Asset Industry
Joe Palmisano
By: Joe Palmisano

PGIM Launches Venture to Drive Tech Innovation in Real Asset Industry

PGIM Real Estate has established a new research and development venture to support future investment, incubation, and technical advancement in real assets, which defines the industry as real estate, renewable and digital infrastructure.

The company, which manages $210 billion in real estate assets, said the newly created RealAssetX will collaborate with universities across the world to research and develop innovative methodologies in the sectors of sustainable technology, artificial intelligence (AI), and deep tech.

It is based on existing PGIM Real Estate data and research, but it will also focus on developing new data sets and advanced analytics to support investment operations.

Data intelligence is one of three fundamental pillars, together with broader R&D and strategic investments with venture capital companies, to develop new technologies and invest third-party resources in early- and late-stage technology.

Raimondo Amabile, co-CEO and global CIO at PGIM Real Estate, said, “The profound impact that the fast-moving technology wave is having on the real asset industry means that investment managers’ success will be defined by their ability to be tech-enhanced through every stage of the investment lifecycle.”

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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