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Sign in Sign up for a FREE subscriptionPGIM Real Estate hits highest fundraising mark ever with latest senior housing fund
PGIM Real Estate has secured nearly $1 billion in capital commitments for its latest senior housing fund, Senior Housing Partners Fund VI (SHP VI), surpassing its initial target of $750 million. The fund closed with a total of $996 million in commitments.
SHP VI is the latest in PGIM Real Estate’s series of dedicated closed-end funds focused on investing in the independent, assisted living and memory care segments of the senior housing sector.
The lion’s share of capital — $570 million — came from existing institutional investors, with $426 million from new institutional and high-net-worth clients.
“The strength of commitment to SHP VI is a testament to the market’s increasing recognition of the compelling demographic trends that are driving demand for senior housing across the U.S.,” said Steve Blazejewski, senior p