PGIM is bullish on Japan’s rental housing sector PGIM Real Estate is on the verge of closing on over $1 billion in equity for its latest Asia Pacific value-add fund, as the Prudential affiliate becomes the latest real estate private equity firm to outperform capital raising expectations during the pandemic. The real estate fund manager has now raised €800 million ($971 million) for AVP IV, the fourth iteration of its closed-ended value-add fund for the region, with the company’s head of Asia Pacific, Benett Theseira indicating to Mingtiandi that PGIM Real Estate expects to bring that total to €850 million within the next two months.