PGIM Real Estate raises $1.61bn

The US asset manager has raised capital for its open-ended debt fund.

Fund name: PGIM Real Estate US Debt Fund (Open-ended)
Amount raised: $1.61 billion
Launch date: July 2017

PGIM Real Estate has raised $1.61 billion for PGIM Real Estate US Debt Fund (Open-ended), according to a Form D filed by the firm. Capital raised will be used to lend to properties throughout the United States across diversified sectors.

Since its launch, the fund has received commitments from several institutional investors, including a $70 million commitment from San Mateo County Employees’ Retirement Association and a $54 million commitment from Stanislaus County Employees Retirement Association.