PGIM Private Capital provided $12.5B in private debt to middle-market companies in 2020

PGIM Private Capital provided $12.5 billion of senior debt and junior capital to nearly 200 middle-market companies and projects globally in 2020, signifying strength and stability during the COVID-19 pandemic.

PGIM Private Capital is a leading source of private debt for public and private companies and is the private capital arm of PGIM, the $1.5 trillion global investment management businesses of Prudential Financial, Inc

“Our steady global investment pace through the COVID-19 pandemic demonstrates the depth of our global network and our commitment to supporting existing and new relationships,” said Allen Weaver, senior managing director and head of PGIM Private Capital. “During volatile market conditions, partnerships are pressure tested, and we responded to the uncertainty with resilience for both our borrowers and investors.”

PGIM Private Capital’s portfolio grew to a record $100 billion in assets under management at year-end.

PGIM Private Capital saw strong activity in Europe, including a $150 million shelf facility with Mecalux, enabling the Spanish family-owned business to draw capital on an as-needed basis.

PGIM Private Capital’s Real Assets platform originated $1.3 billion in energy projects, including lead anchor in a $300 million club deal for Texas Eastern Transmission, an 8,835-mile regulated interstate natural gas pipeline running from the Texas gulf coast to New York to serve local distribution companies, power generators, upstream producers, and natural gas marketers.

Said Weaver, “Our strong performance in 2020, despite the continued global pandemic, reaffirms our commitment to the middle-market and consistent investment approach through all economic cycles. We hope to maintain this momentum into 2021 while balancing risk and opportunities for our investors.”

Source: Business Wire