PGIM Appoints Global CIO

Raimondo Amabile, Head of Europe and Latin America & CIO, PGIM Real Estate. Image courtesy of PGIM Real Estate

PGIM Real Estate has given Raimondo Amabile, head of Europe and Latin America, an additional role at the company. He will now take on the responsibilities of global chief investment officer.

Amabile takes on the job of global CIO from Eric Adler, CEO of PGIM Real Estate, who will continue as chief executive. He will lead the firm’s macro investment strategy on a global basis, with an eye on broad thematic trends, including linking PGIM Real Estate’s data, proprietary market insights and research with new technological innovations—including artificial intelligence and predictive technologies—to help spur investment decisions.

Adler said in a prepared statement that Raimondo is uniquely suited for this opportunity, given his more than 20-year track record of structuring and executing transactions across developed and developing markets globally. “I am confident that this appointment will set us on the right path to make the power of PGIM Real Estate’s investment expertise across equity and debt, and our use of data and technology, a true competitive advantage,” he added.

Amabile steps into the shoes of global CIO having demonstrated his prowess in Europe, where he restructured the company’s business, which involves more than $28 billion in transactions. He has also spearheaded the firm’s role in Latin America, increasing its standing as leading industrial investment manager in Mexico and increasing its expansion opportunities in the region. Amabile takes on his new position effective immediately.

Multitasking in the pandemic environment

PGIM Real estate has been moving forward on all fronts, not allowing the uncertainties of the pandemic to keep it on the sidelines. The company’s recent transactions include the $214 million joint venture acquisition of 307 Queen St, an approximately 211,000-square-foot office property in the Golden Triangle of Brisbane’s financial center.

The firm has also recently provided a $77 million loan to a joint venture for the refinancing of two newly constructed, mixed-use developments in Boulder, Colo., including Market, a 42,000-square foot office destination that’s fully leased to tech firm Splunk Inc. Additionally, PGIM Real Estate came through with just over $99 million in floating rate bridge financing for Invesco Advisers Inc. for the acquisition and lease-up of a life  sciences industry industrial portfolio in the San Francisco metro Area.