Abu Dhabi Investment Office (ADIO) has partnered with PGIM, the global asset management business of Prudential Financial Inc., to launch RealAssetX Innovation Center.
The strategic partnership was formed during Abu Dhabi Finance Week (ADFW), by 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.
As a leading asset management firm, PGIM offers specialized investment strategies and solutions that cover global public and private markets. This highlights the company’s commitment to expanding sustainable financial solutions across the Middle East region.
In 2023, PGIM Real Estate established RealAssetX, an innovation lab, with an aim to research, develop and invest in technology to boost advancements in the real asset industry.
Leveraging data from PGIM Real Estate and third-party sources, RealAssetX collaborates with leading universities and tech companies globally to research and develop technologies in sustainable tech, AI, and deep tech, to revolutionize the real asset sector.
The partnership with ADIO is set to launch a new innovation center in Abu Dhabi, featuring a cutting-edge research and development (R&D) laboratory, in collaboration with top local universities, research centers and Hub71, Abu Dhabi’s global tech ecosystem.
By leveraging RealAssetX’s existing partnerships with premier institutions such as the University of Chicago and University College London, the newly established local lab seeks to serve as a hub for knowledge exchange and innovation. The partnership will also connect Abu Dhabi’s institutions to PGIM’s global network, strengthening cross-border collaboration while promoting innovative advancements for RealAssetX Abu Dhabi.
Through RealAssetX Abu Dhabi, ADIO will enable PGIM to team up with Abu Dhabi’s leading private and public entities, such as universities, incubators and venture capital networks to flourish opportunities in the real asset industry by driving advancements in sustainability, AI and Deep Tech.
In addition, RealAssetX will invite institutions aligned with PGIM’s global vision to join its network, with an aim to propel innovation and cement Abu Dhabi’s position as the region’s leading technology hub. Furthermore, ADIO and PGIM will consider the establishment and management of an investment framework of up to $250 million.
Raimondo Amabile Co-Chief Executive Officer and global CIO – PGIM Real Estate
“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.”
Badr Al-Olama, Director General of the Abu Dhabi Investment Office (ADIO), added that, “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.”
