PGIM Real Estate hits final close for APAC-focussed fund at $646.2m

PGIM Real Estate – the US-based firm formerly known as Pramerica Real Estate Investors – has achieved a final close for its Asia Fund III with a corpus of €580 million ($646.21 million) to invest across mature and emerging markets in the Asia Pacific.

PGIM RE’s investment will include office, retail, residential and logistics properties in target markets like Australia, China, Japan, Malaysia, Singapore, Hong Kong and South Korea.

It has already deployed capital from the fund, completing four transactions in Sydney, Kuala Lumpur, Shanghai and Tokyo.

The real estate investment management business of Pramerica Financial has provided subordinated debt to assist the funding of a multi-stage development at Wentworth Point, Sydney.

It has also acquired two grade-A office properties at Waterfront Place, Shanghai, and purchased Abercrombie & Fitch Company’s flagship store in Tokyo.

In Malaysia, the firm established a joint venture with a developer for a high-rise residential project, Puchong Kinrara Development, in Kuala Lumpur.

“These four transactions demonstrate the depth of our market reach in Asia Pacific, and we will continue to seek compelling opportunities throughout the region to invest across the risk spectrum on behalf of our clients,”managing director adn head of Asia Pacific fo PGIM RE, Benett Theseira said.

Also read:

Indiabulls to raise up to $150m for its second real estate fund

Brookfield amasses $9b for new real estate fund, 30% higher than initial target

Gaw Capital hits $700m first close for $1.3b new real estate fund

HK-based PAG raises over $1b for first pan-Asia real estate fund

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.