PGIM Real Estate is looking to deploy capital in the hot data center space and has raised $2 billion for its Global Data Center Fund (GDCF), which attracted worldwide investors.

The goal of the fund is to use a "build-fill-sell" strategy, so it could maximize returns, according to a statement from PGIM. The investments will focus on hyperscale low-latency data centers through multiple global regions including Asia Pacific, Europe, and North America.

"The Global Data Center Fund strategy creates value through asset-level development joint ventures with leading data center operators. Retaining an operator-independent approach allows the Fund to access attractive investment opportunities in supply constrained markets through its deep range of operator relationships," PGIM said in a statement.

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