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PGIM Private Capital Provides $13B in Private Debt to Middle-Market Companies in 2019

February 10, 2020, 08:55 AM
Filed Under: Industry News

PGIM Private Capital provided $13 billion of senior debt and junior capital to 228 middle-market companies and projects globally in 2019. PGIM Private Capital, a leading source of private capital for public and private companies, is the private capital arm of PGIM Inc., the $1.3 trillion global investment management business of Prudential Financial, Inc.

"2019 was an important year of change and growth for us," said Allen Weaver, senior managing director and head of PGIM Private Capital. "Our name change to PGIM Private Capital reinforces our connection to the global PGIM brand and underscores the investment products we offer institutions seeking exposure and attractive returns through private debt and mezzanine investments. This year we deployed capital across the risk spectrum, meeting the needs of nearly a hundred new clients and over a hundred existing clients across a range of industries."

"Our mezzanine businesses successfully closed 15 mezzanine deals globally, of which 10 were sponsorless transactions," said Jeffrey Dickson, managing director and head of PGIM Private Capital’s alternative investments. "We also originated 14 direct lending deals, totaling almost $600 million. This includes three companies in Europe and two in the energy market."

Highlights include:

  • $10.5 billion of investment-grade investments; $1.8 billion of below-investment-grade investments; $465 million of mezzanine and private equity investments.
  • Over $3.5 billion invested in key sectors including: energy, global infrastructure, credit tenant lease, and equipment financing.
  • $4.6 billion invested in the U.K., Europe, Latin America, and Australasia.

"Our relationship focus and patient capital approach have made us a reliable financial partner," said Weaver. "We believe these differentiators will enable us to continue growing in 2020 and beyond."

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