Prudential Private Capital provides $12.53 billion in private debt in 2018
January 23, 2019
CHICAGO, January 23, 2019 - Prudential Private Capital is a leading source of private capital for public and private companies and is the private capital arm of PGIM, the $1 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).
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“This year marked the continuation of our ongoing expansion both geographically and in specialty areas. We deployed capital across the risk spectrum and met the needs of 91 new clients and 117 existing clients who returned for further funding across a range of industries,” said Allen Weaver, senior managing director and head of Prudential Private Capital .
Prudential Private Capital also formed its Alternatives Group in 2018, housing its mezzanine businesses, Prudential Capital Partners and Prudential Energy Partners, and a new Direct Lending team.
“2018 was a banner year for our mezzanine businesses with 17 mezzanine deals globally, including four in Europe and four in the energy market,” said Jeffrey Dickson, managing director and head of Prudential Private Capital’s alternative investments.
- $10.3 billion of investment-grade investments; $1.6 billion of below-investment-grade investments; $660 million of mezzanine and private equity investments
- Over $4 billion invested in key sectors including: energy, global infrastructure, credit tenant lease and equipment financing
- $5.4 billion invested in the U.K., Europe, Latin America and Australasia
- The opening of an office in Mexico City to meet the growing financing needs of existing and prospective clients in the region
- Prudential Energy Partners closed its first energy mezzanine fund, Prudential Capital Energy Partners Fund I, L.P. at $343 million
Said Weaver, “Amid rapidly changing market conditions and capital market uncertainty, private debt continues to play a critical role for many companies and we are proud to partner with our clients to meet their long-term goals.”
About Prudential Private Capital
Prudential Private Capital has been a leading provider of private placements, mezzanine debt and equity, to companies for more than 75 years. Managing a portfolio of more than $81 billion as of September 30, 2018, Prudential Capital offers senior debt, mezzanine financing, leveraged leases, project financing, credit tenant leases as well as asset financing to companies, worldwide. The global regional office network has locations in Atlanta, Chicago, Dallas, Frankfurt, London, Los Angeles, Mexico City*, Milan, Minneapolis, Newark, New York, Paris, San Francisco and Sydney**.
*Operates through PGIM Real Estate Mexico S.C.
**Operates through PGIM (Australia) Pty Ltd.
About PGIM and Prudential Financial, Inc.
With 15 consecutive years of positive third-party institutional net flows, PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), ranks among the top 10 largest asset managers in the world* with more than $1 trillion in assets under management as of September 30, 2018. PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including fundamental equity, quantitative equity, public fixed income, private fixed income, real estate and commercial mortgages. Its businesses have offices in 15 countries across five continents. For more information about PGIM, visit pgim.com.
Prudential’s additional businesses offer a variety of products and services, including life insurance, annuities and retirement-related services. For more information about Prudential, please visit news.prudential.com.
*Pensions & Investments’ Top Money Managers list, May 28, 2018; based on Prudential Financial total worldwide institutional assets under management as of December 31, 2017. Assets under management (AUM) are based on company estimates and are subject to change.
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