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PGIM Real Estate raises $1bn for APAC value-add fund

The Madison-based global asset manager closed its fourth Asian value-add fund.

  • Fund name: Asia Property Fund IV
  • Amount raised: $1 billion
  • Stage of fundraising: Final close
  • Final close date: January 2021
  • Predecessor fund: Asia Property Fund III (€580 million)

PGIM Real Estate has held a final close on Asia Property Fund IV on $1 billion. The fund will invest in value-add and opportunistic strategies across office, logistics, residential and retail sectors in Asia-Pacific.