PGIM Real Estate has completed the fundraise for its first Global Data Center Fund (GDCF) with $2 billion of capital allocated to the strategy.
The fund has a build-fill-sell investment strategy focused on the low latency hyperscale segment of the global data center sector, targeting opportunistic investment returns. Since its first close in July 2023, the GDCF has been developing a geographically diversified portfolio of assets targeting investments across the major global data center markets of North America, Asia Pacific and Europe. The fund is managed by a global portfolio management team led by Global Head of Data Center Investments Morgan Laughlin, and PGIM Real Estate has over a decade of experience investing in the sector.
The Global Data Center Fund creates value through asset-level development joint ventures with leading data center operators. Retaining an operator-independent approach allows the fund to access attractive investment opportunities in supply co
