Banking

PGIM Real Estate appoints global CIO

Amabile will oversee PGIM Real Estate’s “macro investment strategy globally”, honing in on thematic trends in connection with regional investment strategies.

Amabile will be responsible for connecting PGIM Real Estate’s data, market insights and research with new technology like artificial intelligence to push allocation and investment decisions, according to the firm.

Eric Adler, CEO of PGIM Real Estate, said: “With a more than 20-year track record of structuring and executing transactions across developed and developing markets globally, Raimondo is uniquely suited for this opportunity.”

“I am confident that this appointment will set us on the right path to make the power of PGIM Real Estate’s investment expertise across equity and debt, and our use of data and technology, a true competitive advantage.”

In his role as head of Europe, Amabile reconstructed PGIM Real Estate’s presence in the region, managing $29bn in transactions for the business.

He also developed the firm’s equity and private debt product structure, while leading its Latin American business and driving its position as a major industrial investment manager in Mexico.

“PGIM Real Estate’s ability to harness our deep investment expertise, research, proprietary data and technology will become an increasingly powerful driver for creating better outcomes for our clients in the years to come,” says Alder.

“Innovation has been a hallmark of our firm since our inception, I look forward to building on this and continuing to strengthen our global platform,” he adds.

PGIM is one of the largest real estate managers in the world with $195bn in gross assets under management and administration.

It is valued at $1.5trn.

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