PGIM Real Estate
With $208 billion in gross assets under management and administration1, PGIM Real Estate strives to deliver exceptional outcomes for investors and borrowers through a range of real estate equity and debt solutions across the risk-return spectrum. PGIM Real Estate is a business of PGIM, the $1.4 trillion global asset management business of Prudential FinancialInc. (NYSE: PRU).
PGIM Real Estate’s rigorous risk management, seamless execution, and extensive industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing, and the deep local expertise of professionals in 32 cities globally.
Through its investment, financing, asset management, and talent management approach, PGIM Real Estate aims to engage in practices that ignite positive environmental and social impact, while pursuing activities that strengthen communities around the world.
PGIM Real Estate has long been committed to responsible investing in its portfolios. For example, the investment teams assess energy performance and climate risks of properties, and improve the energy efficiency and resilience of properties acquired and managed. Utilising the Internet of Things technology to optimise existing building energy usage, and measures such as high-efficiency cooling, LED lighting retrofits, and installing solar canopy and electric vehicle charging stations, the firm has been implementing annual portfolio-wide projects, tracking and reporting annual CO2 reductions since launching its sustainability program in 2008. For more information visit pgimrealestate.com/esg.
1As of 31 December 2022, Gross AUM/AUA; net AUM is $134B and AUA is $49B
Key Facts:
- Committed to reduce operational carbon emissions of its global portfolio of managed properties (4,400+ Buildings) to net zero by 2050.
- In 2022 PGIM Real estate became a signatory to the UK stewardship code, a set of voluntary investing-focused principles that promote good stewardship and corporate governance overseen by the frc.
- Since signing the TCFD PGIM have continued to build a more resilient financial system through climate related disclosure.
More information:
PGIM Real Estate is committed to being a part of the solution to address the biggest climate challenges facing the real estate industry. Given our global scale and footprint, we recognize that not only must we act now, but we have a significant opportunity to make a positive impact. We are, therefore, delighted to join the Better Building Partnership to shape our industry’s sustainable investment practices.
Christy Hill, Global Head of ESG
*Please note that the information on this page was supplied by the BBP Member and the BBP assumes no responsibility or liability for any errors or omissions in the content
