Pramerica is to rebrand under the one unified name of PGIM Real Estate in order to simplify the company’s global structure.
The real estate arm of US insurance giant Prudential has operated under two names for more than a decade. In the US it operated under the Prudential Real Estate Investors name, and in Europe, to avoid confusion with the similarly named UK insurer, was branded Pramerica.
Now the company will adopt the PGIM Real Estate name across all of the markets it operates, which also more closely links the European business with parent PGIM, which manages more than $1tn in assets.
The logic behind the move comes from an increasing number of PGIM’s clients investing in cross-border opportunities. Since 2014 nearly half of the European investors have committed capital to strategies outside EMEA, with a third committing to Asian strategies.
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