PGIM Real Estate has completed the fundraise for its first Global Data Center Fund (GDCF) with $2 billion of capital from a range of global investors. That included a distribution partnership with a leading global private bank to raise assets globally for the GDCF.
The GDCF has a build-fill-sell investment strategy focused on the low-latency hyperscale segment of the global data center sector, targeting opportunistic investment returns. It creates value through asset-level development joint ventures with leading data center operators, according to PGIM Real Estate.
“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.”
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