Abu Dhabi Investments Office (ADIO) has announced that it has entered into a strategic partnership with PGIM, the global asset management company owned by Prudential Financial Group, to establish a new innovation center in Abu Dhabi as part of its latest strategic partnership, RealAssetX.
Publish dateWednesday 11 December 2024 - 14:48
According to Amac News: Based on the ADIO announcement, the partnership was signed on Tuesday, December 10, during the Abu Dhabi Financial Week (ADFW) by Badr Al-Alageh, General Manager of ADIO and Raimundo Amibelli, Co-CEO and Global Investment Director of PGIM Real Estate.
PGIM is one of the largest asset management firms in the world, offering specialized expertise in investment strategies and solutions. The company seeks to scale solutions for a sustainable financial services system and significant asset management in the Middle East region.
PGIM Real Estate launched the RealAssetX Innovation Lab in 2023, which aims to research, develop and invest in technologies that help accelerate developments in the real estate industry. Using PGIM Real Estate data and third-party sources, the lab collaborates with leading global universities and technology companies to develop new technologies.
The RealAssetX Innovation Center in Abu Dhabi will include a state-of-the-art research and development (R&D) laboratory. The lab will collaborate with local universities and research centers as well as Hub 71, Abu Dhabi's global technology ecosystem, and will act as a center for knowledge exchange and innovation.
According to ADIO, the center seeks to leverage RealAssetX's existing partnerships with world-renowned institutions such as the University of Chicago and University College London.
Through RealAssetX Abu Dhabi, ADIO will facilitate PGIM's collaboration with Abu Dhabi's leading private and public institutions, including universities, accelerators and investment networks, to advance research and investment in sustainability, artificial intelligence and deep technologies in the real asset industry.
Additionally, ADIO has announced that it will explore with PGIM the creation and management of an investment framework of up to $250 million. This investment vehicle is designed to invest in early stage and advanced technology companies regionally and globally to transform their research into market leading solutions.
The Director General of ADIO stated that this partnership with PGIM demonstrates Abu Dhabi's commitment to building an innovation and knowledge-based economy. The purpose of RealAssetX Abu Dhabi is to establish a connection between the national creative force and global expertise and thus empower national talents.
PGIM is one of the largest asset management firms in the world, offering specialized expertise in investment strategies and solutions. The company seeks to scale solutions for a sustainable financial services system and significant asset management in the Middle East region.
PGIM Real Estate launched the RealAssetX Innovation Lab in 2023, which aims to research, develop and invest in technologies that help accelerate developments in the real estate industry. Using PGIM Real Estate data and third-party sources, the lab collaborates with leading global universities and technology companies to develop new technologies.
The RealAssetX Innovation Center in Abu Dhabi will include a state-of-the-art research and development (R&D) laboratory. The lab will collaborate with local universities and research centers as well as Hub 71, Abu Dhabi's global technology ecosystem, and will act as a center for knowledge exchange and innovation.
According to ADIO, the center seeks to leverage RealAssetX's existing partnerships with world-renowned institutions such as the University of Chicago and University College London.
Through RealAssetX Abu Dhabi, ADIO will facilitate PGIM's collaboration with Abu Dhabi's leading private and public institutions, including universities, accelerators and investment networks, to advance research and investment in sustainability, artificial intelligence and deep technologies in the real asset industry.
Additionally, ADIO has announced that it will explore with PGIM the creation and management of an investment framework of up to $250 million. This investment vehicle is designed to invest in early stage and advanced technology companies regionally and globally to transform their research into market leading solutions.
The Director General of ADIO stated that this partnership with PGIM demonstrates Abu Dhabi's commitment to building an innovation and knowledge-based economy. The purpose of RealAssetX Abu Dhabi is to establish a connection between the national creative force and global expertise and thus empower national talents.
amacnews.com/vdch.-nit23nik10d2.html
Source : news agency wam
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