PGIM Real Estate Launches RealAssetX to Drive Sustainable Tech and AI Innovation in Real Asset Industry

London, UK, October 10, 2023 - PGIM Real Estate, a renowned real estate investment manager with assets totaling $210 billion, has taken a major step towards advancing innovation in the real asset industry with the launch of RealAssetX, an innovation lab dedicated to exploring and implementing cutting-edge technologies. This strategic initiative, underpinned by a wealth of data from PGIM Real Estate and third-party sources, represents a bold move to accelerate progress in the sector. The lab will collaborate with top universities and institutions globally, focusing on sustainable technology, artificial intelligence (AI), and deep tech.

Raimondo Amabile, co-CEO and Global Chief Investment Officer at PGIM Real Estate, stressed the importance of technology in today's real asset industry, saying, "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." He further highlighted the significance of partnerships with leading universities and tech companies, noting that RealAssetX is "building an ecosystem to develop new technologies that don’t exist today."

RealAssetX is set to create unique datasets and advanced analytics by combining unstructured third-party data with insights gathered over 50 years of investment activities by PGIM Real Estate. This foundation of data will be integral to the lab's ongoing research and development efforts.

In the realm of research and development, RealAssetX will collaborate with universities and tech companies globally. The focus is on taking projects from concept to incubation, funding, and potential launch. Additionally, RealAssetX will launch an accelerator program designed for early-stage technology companies that possess research-driven intellectual properties.

Cathy Marcus, co-CEO and Global Chief Operation Officer at PGIM Real Estate, emphasized the potential of technology to enhance efficiency and investment performance, stating, "We strongly believe that better technology can improve efficiency and create better investment performance." She highlighted the wealth of data and research resources that PGIM Real Estate brings to the table and the insights gained from academic partnerships.

RealAssetX will also forge strategic partnerships with venture capital firms, which will aid in investing in and delivering modern technologies tailored to the real asset industry. The partnership with Taronga Ventures, a renowned global real asset technology manager, will enable third-party capital to invest in early and later-stage technology companies.

As part of this endeavor, RealAssetX has already entered into partnerships with prominent universities across the globe, each with a specific focus:

• In the UK, RealAssetX is collaborating with UCL (University College London) to launch the UCL Centre for Sustainability and RealTech Innovation, concentrating on research projects in sustainability, AI, and innovation in real assets.
• In the United States, a partnership with the University of Chicago Data Science Institute will center on big data analysis and AI for predictive analytics to improve investment decisions and portfolio construction processes.
• In the Asia-Pacific region, RealAssetX is partnering with the National University of Singapore to explore research data and AI for predictive analytics. Another collaboration with the University of New South Wales in the same region will focus on deep tech and sustainability.

Over time, RealAssetX intends to establish further strategic partnerships globally as its work progresses across all three pillars. This initiative promises to be a game-changer in the real asset industry, bridging the gap between technology and real asset management.

In an era defined by technological innovation, RealAssetX is poised to reshape the landscape of real asset investment, driving efficiency, and better decision-making throughout the industry. With a commitment to research, development, and strategic partnerships, it seeks to unlock new frontiers in the world of real assets.