**PGIM Real Estate Closes $2B Global Data Center Fund**
PGIM Real Estate has successfully completed fundraising for its inaugural Global Data Center Fund (GDCF), securing $2 billion in capital from a diverse range of global investors. The raise included a distribution partnership with a leading global private bank to support global asset gathering for the fund.
The GDCF follows a build-fill-sell investment strategy with a focus on the low-latency hyperscale segment of the global data center market. It aims to generate opportunistic investment returns by creating value through development joint ventures at the asset level with top-tier data center operators.
“Data centers are at the heart of the digital framework that is playing an increasingly critical role across our economy and society,” said Morgan Laughlin, Global Head of Data Center Investments at PGIM Real Estate. “In line with the recognition of the importance of digital infrastructure in our modern lives, global investors are rapidly increasing their exposure to the sector.”
