2021 Year in Review
February 11, 2022
In 2021 we provided $14.5 billion of senior debt and junior capital to over 200 middle market companies and projects.
In 2021, we served our partners and remained focused on what matters most: long-term relationships and long-term, patient capital. As we start 2022, we are proud to share that we closed a record year of lending in 2021 - a testament to our unwavering commitment and stability during periods of continued volatility.
We are pleased to share some 2021 highlights:
- 246 transactions totaling $14.5 billion invested worldwide, closing the year with over $100 billion in assets under management.
- 96 partners across a range of industries worked with us for the first time, and 126 existing borrower companies returned for further funding, demonstrating our continuation of existing partnerships and appetite for follow-on funding.
- 149 investment grade partners totaling $12.0 billion, with the highest investment grade originations since 2017.
- 32 below investment grade partners totaling $2.0 billion, including a $60 million below investment grade origination for Rougaroux Power Holdings, supporting a high-performing hydro facility, which is among the newest and largest hydroelectric facilities built in the U.S. in the last 30 years.
- Strong activity in corporate finance around the world, including in Latin America with $556 million invested across 8 deals by our Mexico City office. Notably, the team closed a $90 million below investment grade origination for Procaps Group, S.A., a leading manufacturer of high-quality medicines, which marks our first investment in Colombia.
- $1.6 billion invested across energy and power projects, including a joint effort between our Power and Mexico City teams for Tealov S.A., which will support the long-term reliability of the national electricity system in Uruguay and enable increased renewable energy production.
- Closing of our first sustainable power deal, under the PGIM Sustainable Power Program.
- Opening of our Madrid office, Prudential’s inaugural presence in Spain, with $417 million invested in 2021.
- Strong activity in the UK and Europe, including a $88 million investment with Enpal, a Germany-based solar leasing company to finance the installation of more than 15,000 residential PV systems.
- Record year of clubbing activity, with fourteen transactions closed, including a club deal with Ameritex, who teamed up with us given our existing relationship and range of capabilities we offer as a long-term partner.
"It is an honor to work with an organization like Prudential, who understands our distinctive value proposition in the industry and who shares our enthusiasm for creating a cleaner and more resilient energy future.”
John Chaimanis, Co-Founder and Managing Director
Kendall Sustainable Infrastructure
Looking ahead to 2022, we are excited to continue building enduring local partnerships and providing customized capital solutions. We are grateful for the opportunity to get to know you and your business personally.
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