PGIM Real Estate has raised over $400m (€372m) for its newly launched European core-plus strategy.
The manager said the European Core Plus strategy’s capital was raised in less than six months after the launch of the open-ended vehicle.
European Core Plus targets sectors such as last-mile logistics; residential including rental, senior and student housing; and new generation of office. The strategy will also target ”tactical opportunities in mispriced sectors”, such as hotels or self-storage, the manager said.
Jocelyn de Verdelon, senior portfolio manager of the European Core Plus strategy, said: “In this high inflation environment and amid market dislocations, investors increasingly want strategies that are able to distribute sustainable income and generate alpha.
“Our European Core Plus strategy aims to do just that, by focusing on high-conviction investment themes across the true core-plus universe to deliver growing income combined with value creation.”
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