PGIM Real Estate raises €1.8bn for final close of PGIM Real Estate Capital VII

The seventh fund in PGIM Real Estate’s European flagship high yield debt fund series, PGIM Real Estate Capital VII (PRECap VII), has closed on €1.82bn, the largest European real estate debt fund closed in 2021.

PGIM Real Estate is the real estate investment and financing business of PGIM, the $1.5 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).

PGIM Real Estate’s European debt platform provides alternative financing, including senior debt, whole loans and mezzanine with co-invest equity. The platform has completed over €10bn across over 180 senior and high yield debt investments in UK and Continental Europe, through its PRECap series of funds, as well as its senior debt strategy, which also recently closed a global mandate of €1bn from a European investor. 

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As one of the largest real estate managers in the world with $209.3bn in gross assets under management and administration, PGIM Real Estate strives to deliver exceptional outcomes for investors and borrowers through a range of real estate equity and debt solutions across the risk-return spectrum. PGIM Real Estate is a business of PGIM, the $1.5 trillion global asset management business of Prudential Financial.

PGIM Real Estate’s rigorous risk management, seamless execution, and extensive industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing,  and the deep local expertise of professionals in 32 cities globally. Through its investment, financing, asset management, and talent management approach, PGIM Real Estate engages in practices that ignite positive environmental and social impact, while pursuing activities that strengthen communities around the world.

Source: Private Equity Wire

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