• Once established, RealAssetX Abu Dhabi also aims to develop a USD 250 million investment strategy seeking to fund innovative solutions developed by the innovation centre supporting Abu Dhabi's vision to become a global hub for financial and technological innovation

Abu Dhabi, UAE – The Abu Dhabi Investment Office (ADIO) has entered into a strategic partnership with PGIM, the global asset management business of Prudential Financial Inc.,  which seeks to establish a new innovation centre in Abu Dhabi as part of the latest strategic partnership for RealAssetX.

The strategic partnership was entered into today during Abu Dhabi Finance Week (ADFW), by His Excellency Badr Al-Olama, Director General of the Abu Dhabi Investment Office (ADIO) and Raimondo Amabile, co-Chief Executive Officer and Global Chief Investment Officer at PGIM Real Estate.

PGIM is one of the world's largest asset management firms, delivering specialized expertise across investment strategies and solutions with global depth and scale across public and private asset classes. These include fixed income, equities, real estate, private credit, and other alternatives.  The company aims to scale solutions for a sustainable financial services system while managing significant funds across the Middle East region.

In 2023, PGIM Real Estate 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 sources, RealAssetX partners with leading universities and tech companies globally – working in fields of sustainable tech, artificial intelligence (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 latest strategic partnership with ADIO aims to launch a RealAssetX innovation centre in Abu Dhabi, featuring a state-of-the-art research and development (R&D) laboratory, established in collaboration with leading local universities, research centres and Hub71, Abu Dhabi’s global tech ecosystem. It is intended that the newly established local lab will serve as a hub for knowledge exchange and innovation, leveraging RealAssetX’s existing partnerships with globally renowned institutions such as the University of Chicago and University College London. ADIO and PGIM's partnership will connect Abu Dhabi's institutions to PGIM's global network, enhancing cross-border collaboration and fostering innovative advancements for RealAssetX Abu Dhabi.

Through RealAssetX Abu Dhabi, ADIO will facilitate PGIM’s collaboration with Abu Dhabi’s leading private and public entities, including universities, incubators and venture capital networks to advance research and investment into areas of sustainability, AI and Deep Tech in the real asset industry. RealAssetX will also invite institutions aligned with PGIM’s global vision to join its network, ensuring the centre becomes a principal platform for nurturing innovation and solidifying Abu Dhabi’s role as the region’s leading technology hub.

In addition to this, ADIO and PGIM will consider the establishment and management of an investment framework of up to USD 250 million. This investment vehicle will aim to enable RealAssetX in Abu Dhabi to invest in early and later stage technology companies both in the region and globally to transform their research into market-leading solutions, designed to deliver impactful outcomes for founders, investors and the local economy. 

H.E. Badr Al-Olama, Director General of the Abu Dhabi Investment Office (ADIO), commented: “Our partnership with PGIM is a testament to Abu Dhabi’s commitment to building an innovation-driven, knowledge-based economy. RealAssetX Abu Dhabi will bridge local ingenuity with global expertise, empowering local talent while ensuring that Abu Dhabi remains at the forefront of global financial innovation.”

Raimondo Amabile, co-Chief Executive Officer and global CIO at PGIM Real Estate, added: “Partnering with ADIO will deliver innovative solutions in one of the world’s most dynamic markets. Through partnering with the region’s leading universities and technology companies, RealAssetX continues to strengthen its ecosystem and develop new technologies that don’t exist today, and drive transformation in the real asset industry. Establishing RealAssetX Abu Dhabi, aims to bring global insights to the region, foster local talent and create an ecosystem that enables innovation to thrive in Abu Dhabi.”

Through the strategic partnership, ADIO and PGIM will prioritise local talent development. RealAssetX Abu Dhabi will explore opportunities to leverage its global network to collaborate with Abu Dhabi’s universities to ensure the transfer of best practices and create internship opportunities for students. This partnership exemplifies ADIO’s “Invest with Abu Dhabi” approach, offering global investors and innovators a unique opportunity to partner with a dynamic and forward-thinking ecosystem.

About Abu Dhabi Investment Office

The Abu Dhabi Investment Office (ADIO) is the government vehicle responsible for accelerating Abu Dhabi’s growth and enabling the emirate’s economic transformation. Through comprehensive support services, ADIO enables both local and foreign investors to shape industries of the future set to transform liveability, technology, resources, and value-added services. Initiatives focused on regional tourism and retail development, as well as public-private partnerships, ensure that community well-being is at the centre of Abu Dhabi’s economic transformation. With a robust network of investors, strong collaboration with key stakeholders, and a global presence, ADIO is committed to empowering those who invest with Abu Dhabi to make a lasting global impact. For more information, visit: https://www.investinabudhabi.gov.ae.

About PGIM

PGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU). In 42 offices [is Abu Dhabi included?] across 19 countries, our more than 1,400 investment professionals serve both retail and institutional clients around the world.

As a leading global asset manager, with $1.4 trillion in assets under management3, PGIM is built on a foundation of strength, stability, and disciplined risk management. Our multi-affiliate model allows us to deliver specialized expertise across key asset classes with a focused investment approach. This gives our clients a diversified suite of investment strategies and solutions with global depth and scale across public and private asset classes, including fixed income, equities, real estate, private credit, and other alternatives. For more information, visit pgim.com.

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. For more information please visit news.prudential.com.

ABOUT PGIM REAL ESTATE

With $212 billion in gross assets under management and administration,1 PGIM Real Estate provides investors and borrowers access to a range of real estate equity, real estate debt, agriculture, and impact solutions across the risk-return spectrum. PGIM Real Estate is a business of PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU). PGIM Real Estate’s risk management approach, execution capabilities and industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing,2 and the local experience of professionals in 32 cities globally. Through its investment, financing, asset management and talent management approach, PGIM Real Estate engages in practices that strive to ignite positive environmental and social impact, while pursuing activities that seek to strengthen communities around the world. For more information visit pgimrealestate.com.

1 As of Sept. 30, 2024. Net AUM is $137 billion and AUA is $47 billion.

2 Includes legacy lending through PGIM’s parent company, PFI.

3 As of Sept. 30, 2024.

For more information on ADIO, please contact:
ADIO@edelman.com

For more information on PGIM, please contact:
sharan.kaur@pgim.com