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.”