Apr 07, 2025 | Posted by Abdul-Rahman Oladimeji
PGIM Real Estate has closed a $2 billion fund to back data center developments around the world. Morgan Laughlin, PGIM’s global head of data center investments, leads the fund. Laughlin described the fundraising as “an important milestone that reflects strong investor confidence in the sector and our strategy.”
He said: "Data centers are at the heart of the digital framework that is playing an increasingly critical role across our economy and society. In line with the recognition of the importance of digital infrastructure in our modern lives, global investors are rapidly increasing their exposure to the sector. So far, the fund has committed $450 million of equity capital to data center investments, and PGIM said GDCF retains a strong pipeline of opportunities “that is expected to allow it to deploy the remaining capital within the next 18 months.”
Raimondo Amabile, PGIM Real Estate co-chief executive officer and global chief investment officer, said: “We see a significant opportunity to develop expertise in the data center space and create a wider digital infrastructure platform. Data centers, and other associated digital infrastructure, offer a generational investment opportunity as the digital demands of our societies and economies continue to expand at an astounding pace.”
