Skip to main content
PGIM Real Estate LogoPGIM Real Estate Logo
    • Company Overview
    • Leadership
    • Locations
    • Contact Us
    • Careers
  • Overview
    • Real Estate Equity
    • Real Estate Debt
    • Public REIT Securities
    • Defined Contribution
    • Agriculture
    • Private Equity
    • Impact Investing
  • Overview
    • Stabilized
    • Transitional
    • Mezzanine
    • Agency
    • Multifamily
    • Agricultural
    • ESG Overview
    • Environmental
    • Social
    • Governance
  • Insights
  • News
  • Client Portals
Tech
Press Release

PGIM Real Estate strengthens global innovation strategy with European investment in Fifth Wall PGIMRealEstatestrengthensglobalinnovationstrategywithEuropeaninvestmentinFifthWall

Mar 24, 2021

4 mins

Share
  • Mail
  • LinkedIn
  • Twitter
  • Copy URL
Download here

Share

PGIM Real Estate has strengthened its global innovation strategy with an investment into the Fifth Wall European Real Estate Technology Fund. PGIM Real Estate is the real estate investment and financing business of PGIM, the US$1.5 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).  

PGIM Real Estate continues to expand and grow its global innovation strategy through key partnerships, as it taps into the technology disruption wave currently transforming the real estate industry.  

PGIM Real Estate’s investment in the Fifth Wall European Real Estate Technology Fund is the latest development in the group’s global innovation strategy—following its strategic equity stake in Taronga Ventures and investment in Taronga’s RealTech Ventures Fund in the Asia-Pacific region, and in the US, MetaProp NYC’s MetaProp Ventures II and III. 

Fifth Wall European Real Estate Technology Fund is the first European-focused strategy from Fifth Wall, the largest venture capital (VC) firm specialising in property technology—or PropTech. With US$1.7 billion under management, the Los Angeles-based Fifth Wall has one of the most sophisticated research platforms among VC firms for PropTech, which it is leveraging with its European offering. 

“Technology is rapidly disrupting real estate after years of relative inertia and will be transformational for our industry. Venture capital partners are invaluable assets in our ongoing innovation efforts, providing assistance in the identification of likely winners among the hundreds of start-ups,” said Sara Shank, managing director and global head of innovation at PGIM Real Estate. “Our partnership with Fifth Wall provides us with access to the firm’s deep insights and capabilities to access technological solutions in Europe. This partnership, alongside our partners in Asia-Pacific and the US, continues to strengthen our global strategy and ensures we remain at the forefront of global technological evolution.” 

Raimondo Amabile, managing director and head of Europe and Latin America at PGIM Real Estate, added: “PGIM Real Estate continues to make great strides in technological innovation globally, and now more than ever, it is imperative to adapt and evolve as an organization to meet the major disruptions that are changing every facet of our business and industry. The partnership with Fifth Wall in Europe demonstrates our ongoing commitment to proactively engage with the evolving technological landscape to maintain our competitive advantage.” 

“Historically, real estate—one of the largest industries on earth—has been a tech laggard,” said Brendan Wallace, co-founder and managing partner, Fifth Wall. “Fifth Wall was founded and purpose-built to help firms like PGIM Real Estate accelerate their identification and adoption of transformative PropTech solutions. Since Fifth Wall’s inception in 2016, we’ve worked with North American, Asian and European real estate organizations to execute investments in, and structure partnerships with, category-leading technology companies to help ensure the ongoing health and growth of their businesses. We’re thrilled to welcome PGIM Real Estate as a new member of Fifth Wall’s global consortium of more than 65 corporate real estate investors from 15 countries, and we look forward to working with Sara and the PGIM Real Estate team on strengthening the company’s global strategy through technology and innovation.” 

“We believe the European real estate tech market or ‘PropTech’ market is on the cusp of transformative growth and we’re excited to work with PGIM Real Estate, alongside the rest of our strategic LPs, to navigate this change,” said Roelof Opperman, partner, co-head of Europe, Fifth Wall. “As we work closely with PGIM Real Estate to identify its technology priorities, we’re eager to help pair these initiatives with high-potential European PropTech startups, resulting in both financially sound and strategically relevant outcomes.” 

 

Download here

Meet the team

  • Sara Shank
    Sara Shank

    Global Head of Innovation

View all
More News

The latest news and media about PGIM Real Estate.

View all

  • About Us

    • Company Overview
    • Leadership
    • Locations
    • Contact
    • Careers
    • Client Portals
  • Investments

    • Overview
    • Real Estate Equity
    • Real Estate Debt
    • Public REIT Securities
    • Defined Contribution
    • Agriculture
    • Private Equity
    • Impact Investing
    • Senior Housing
    • Mexico Industrial
  • Financing Solutions

    • Overview
    • Stabilized
    • Transitional
    • Mezzanine
    • Agency
    • Agriculture
    • Loan Services
  • ESG

    • ESG Overview
    • Environmental
    • Social
    • Governance
  • Insights & News

    • Insights
    • News
PGIM Real Estate Logo
  • Terms & Conditions
  • PGIM Privacy Center
  • Accessibility Help
  • Cookie Preference Center

Disclosure Statement (California)opens in a new window     Disclosure Statement (Japan)       Disclosure Statement (UK)opens in a new window      Form CRS - PGIM, Inc.opens in a new window

For Professional Investors only. All investments involve risk, including the possible loss of capital.

The content and materials presented here are for informational and educational purposes only and should not be construed as investment advice or an offer or solicitation in respect of any products or services to any persons who are prohibited from receiving such information under the laws applicable to their place of citizenship, domicile or residence. PGIM, Inc., is the principal asset management business of PFI and is a registered investment adviser with the US Securities and Exchange Commission(SEC). Registration with the SEC does not imply a certain level of skill or training.  PGIM is a trading name of PGIM, Inc and its global subsidiaries.

In the United Kingdom, information is issued by PGIM Limited with registered office: Grand Buildings, 1-3 Strand, Trafalgar Square, London, WC2N 5HR. PGIM Limited is authorised and regulated by the Financial Conduct Authority (“FCA”) of the United Kingdom (Firm Reference Number 193418).  In the European Economic Area (“EEA”), information is issued by PGIM Real Estate Luxembourg S.A. with registered office: 2, boulevard de la Foire, L-1528 Luxembourg. PGIM Real Estate Luxembourg S.A. is authorised and regulated by the Commission de Surveillance du Secteur Financier (the “CSSF”) in Luxembourg (registration number A00001218) and operating on the basis of a European passport. In certain EEA countries, information is, where permitted, presented by PGIM Limited in reliance of provisions, exemptions or licenses available to PGIM Limited under temporary permission arrangements following the exit of the United Kingdom from the European Union. These materials are issued by PGIM Limited and/or PGIM Real Estate Luxembourg S.A. to persons who are professional clients as defined under the rules of the FCA and/or to persons who are professional clients as defined in the relevant local implementation of Directive 2014/65/EU (MiFID II). In Germany, this material is distributed by PGIM Real Estate Germany AG, a regulated entity by the Bundesanstalt für Finanzdienstleistungen (BaFin).

In Japan, information is provided by PGIM Real Estate (Japan) Ltd., a Japanese asset manager that is registered with the Kanto Local Finance Bureau of Japan. In Hong Kong, information is issued by PGIM (Hong Kong) Limited, a regulated entity with the Securities and Futures Commission in Hong Kong to professional investors as defined in Section 1 of Part 1 of Schedule 1 of the Securities and Futures Ordinance (Cap. 571). In Singapore, information is issued by PGIM (Singapore) Pte. Ltd., a regulated entity with the Monetary Authority of Singapore under a Capital Markets Services License to conduct fund management and an exempt financial adviser.

In Australia, information is issued by PGIM (Australia) Pty Ltd ("PGIM Australia") for the general information of its "wholesale" customers (as defined in the Corporations Act 2001). PGIM Australia is a representative of PGIM Limited, which is exempt from the requirement to hold an Australian Financial Services License under the Australian Corporations Act 2001 in respect of financial services. PGIM Limited is exempt by virtue of its regulation by the FCA (Reg: 193418) under the laws of the United Kingdom and the application of ASIC Class Order 03/1099. The laws of the United Kingdom differ from Australian Laws.

Prudential Financial, Inc. of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. PGIM, the PGIM logo and Rock design are service marks of PFI and its related entities, registered in many jurisdictions worldwide.

The information on this website is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. In making the information available on this website, PGIM, Inc. and its affiliates are not acting as your fiduciary.

©2022 PFI and its related entities.

Links

Links from this website to a non-PGIM website may be provided for the user’s convenience only. PGIM does not control or review these third-party sites nor does the provision of a link imply any endorsement of our association with such non-PGIM sites. Your linking to any websites from this website is at your own risk. To the extent that any information on this website relates to a third party, this information has been provided by that third party and is the sole responsibility of such third party and, as such, PGIM accepts no liability for such information. Subject to the terms of applicable service or other agreements, we will remove any link from this website upon request from the owner of the linked website. 

Links from this website to affiliates are provided for the user’s convenience only. Each affiliate’s website is issued or approved solely by the applicable affiliate and unless stated otherwise on such affiliate’s website, is not issued by PGIM, Ltd. or any other non-U.S. entity. Each affiliate is solely responsible for the content of its respective website. The laws governing any affiliate and its respective websites may differ from the laws governing pgim.com and the relevant website's terms and conditions and policies may differ from those of pgim.com. 

©2022 Prudential Financial, Inc. and its related entities.

NMLS ID# - 172545

You are viewing this page in preview mode.

Edit Page