Prudential Raising up to $2 Billion for US CRE Debt Fund

PGIM Real Estate, the asset management arm of Ontario-based Prudential Financial Inc. (NYSE: PRU), is in the market raising money for its PGIM Real Estate US Debt Fund. PGIM expects to raise about $2 billion over a 3-year period. Once fully invested, PGIM expects the fund to hold about 65 debt investments at any given time. Target strategy returns are in the range of 7 to 8% gross, which translatse to 6.25% - 7.25% target net returns, according...