On Oct 12, PGIM Real Estate announced it has launched RealAssetX, an innovation lab to research, develop and invest in technology that aims to accelerate advancements in the real asset industry.
Underpinned by data from PGIM Real Estate and third-party data sources, RealAssetX will partner with leading universities around the world – working in the fields of sustainable tech, AI and deep tech – to research and develop new technologies that can be incubated and eventually adopted by owners, operators and managers of real assets.
The ecosystem of RealAssetX is comprised of three interconnected pillars, data intelligence, research & development and investments.
Data intelligence involves building data sets along with a combination of advanced analytics and unstructured third-party data with data accumulated by PGIM Real Estate over 50 years through the firm’s investment activities.
In the UK, RealAssetX is partnering with UCL (University College London) to launch the UCL Centre for Sustainability and RealTech Innovation, focusing on research projects in sustainability, AI, and innovation in real assets. In the US, a partnership with the University of Chicago Data Science Institute will focus on big data analysis and AI for predictive analytics to improve investment decisions and portfolio construction processes.
In Asia-Pacific, RealtAssetX will be partnering the National University of Singapore and the University of New South Wales.
Under the investments pillar, RealAssetX will forge partnerships with venture capital firms to invest and deliver modern technologies for the industry. One of the partners is Taronga Ventures, third-party capital to invest in early and later stage technology companies.
PGIM manages US$210 billion of real estate.
