AI
PGIM Raises $2 Billion Data Center Fund as Dealmaking Doubles
Data centers have become one of the hottest trades in private markets.
Photographer: Jonathan Nackstrand/AFP/Getty ImagesThis article is for subscribers only.
PGIM Real Estate has raised $2 billion for its first dedicated data center fund as investors clamor to bet on digital infrastructure.
The Global Data Center Fund will invest in building out new facilities that it plans to lease to major cloud providers such as Amazon.com Inc., Alphabet Inc., and Microsoft Corp., according to a statement Wednesday. The low latency facilities, designed to minimize delays in transmission, will then be sold, it said.