PGIM Private Capital provided $7.5 billion of senior debt and
junior capital to more than 130 middle-market companies and
projects globally in the first half of 2024. PGIM Private Capital
is a source of private debt for public and private companies and is
the private capital arm of PGIM, the $1.34 trillion global
investment management business of Prudential Financial, Inc. (NYSE:
PRU).
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“We expect momentum to continue with
companies that have put off financing decisions gradually adjusting
their expectations and cost structures in anticipation of a
higher-for-longer rate environment, and continuing to look for
long-term partners to provide credit solutions.” --Matt Douglass,
Senior Managing Director at PGIM Private Capital (Photo: Business
Wire)
“The first half of 2024 has been more stable for issuance than
the same period last year. This year we’ve seen M&A activity
pick up somewhat, a less uncertain economic environment and greater
acceptance of higher rates which has fed through to a pickup in
financing activity,” said Matt Douglass, senior managing director
and head of PGIM Private Capital. “We expect momentum to continue
with companies that have put off financing decisions gradually
adjusting their expectations and cost structures in anticipation of
a higher-for-longer rate environment, and continuing to look for
long-term partners to provide credit solutions.”
First Half 2024 Highlights:
- $5.5 billion of investment-grade investments, $1.7 billion of
below-investment-grade investments, over $230 million of mezzanine
and private equity investments.
- 56 new issuers across a range of industries added to the
portfolio, and 79 existing borrower companies returned for further
funding.
- $4.0 billion in Global Corporate Finance investments across
North America, the U.K., Europe, Latin America and
Australasia.
- $2.5 billion in real assets sectors, including energy, power,
infrastructure, credit tenant lease financing, and structured
credit.
- Over $230 million of mezzanine investments, across nearly 20
transactions.
- $1.1 billion in Direct Lending transactions, across more than
30 transactions in 9 countries.
In the first half 2024, PGIM Private Capital continued building
long-term relationships across geographies, including over 50
direct Global Corporate Finance transactions. Direct originations
continue to be a core driver of PGIM Private Capital’s diverse
pipeline, offering investors access to differentiated deal flow —
from financing a U.S.-based family-owned agricultural commodity
processor to supporting Mexico’s leading distributor of heavy
machinery and equipment.
PGIM Private Capital’s Real Assets platform originated $1.9
billion in energy and power transactions, over $450 million in
infrastructure investments, and $200 million in credit tenant lease
transactions. Notably, the team closed its first renewable power
transaction in Sweden with Solør Bioenergi AB, a privately owned
Northern European district heating platform, and its first energy
investment in Spain with a holdco debt transaction in Exolum, an
international liquid products logistics company.
As general economic activity stabilizes and steadily increases,
PGIM Private Capital’s Alternatives platform has seen strong
activity, with over $1.3 billion in originations globally. The
platform continues to gain momentum across both direct lending and
mezzanine asset classes internationally, with the team notably
closing several transactions comprising both senior and junior
capital across Europe, Australia and North America.
PGIM Private Capital also launched its first European Long-Term
Investment Fund (ELTIF) in H1 2024 to support its direct lending
strategy. The ELTIF will support PGIM Private Capital’s loan
origination efforts in Europe, providing flexibility to extend
loans across the continent with a more varied mix of borrower
type.
ABOUT PGIM PRIVATE CAPITAL
PGIM Private Capital manages a $102.4 billion portfolio of
private placements, mezzanine, and direct lending investments
through its regional office network (Atlanta; Chicago; Dallas;
Frankfurt, Germany; London; Los Angeles; Madrid; Mexico City1;
Milan; Minneapolis; Newark, New Jersey; New York; Paris; San
Francisco; and Sydney2) and purchases up to $16 billion annually in
predominantly senior debt and junior capital investments. PGIM
Private Capital manages more than $20 billion in outside
non-affiliated assets through its Institutional Asset Management
unit and Alternative Investments unit, comprising Direct Lending,
PGIM Capital Partners and PGIM Energy Partners mezzanine funds. All
data as of March 31, 2024. For more information, please visit
pgimprivatecapital.com.
ABOUT PGIM
PGIM is the global asset management business of Prudential
Financial, Inc. (NYSE: PRU). In 41 offices across 19 countries, our
more than 1,450 investment professionals serve both retail and
institutional clients around the world.
As a leading global asset manager, with $1.34 trillion in assets
under management,3 PGIM is built on a foundation of strength,
stability, and disciplined risk management. Our multi-affiliate
model allows us to deliver specialized expertise across key asset
classes with a focused investment approach. This gives our clients
a diversified suite of investment strategies and solutions with
global depth and scale across public and private asset classes,
including fixed income, equities, real estate, private credit, and
other alternatives. For more information, visit pgim.com.
Prudential Financial, Inc. (PFI) of the United States is not
affiliated in any manner with Prudential plc, incorporated in the
United Kingdom, or with Prudential Assurance Company, a subsidiary
of M&G plc, incorporated in the United Kingdom. For more
information please visit news.prudential.com.
1 The Mexico City office operates through PGIM Real Estate
Mexico S.C.
2 The Sydney office operates through PGIM (Australia) Pty
Ltd.
3 As of March 31, 2024.
In the United Kingdom, information is issued by PGIM Private
Capital Limited with registered office: Grand Buildings, 1-3
Strand, Trafalgar Square, London, WC2N 5HR. PGIM Private Capital
Limited is authorized and regulated by the Financial Conduct
Authority (“FCA”) of the United Kingdom (Firm Reference Number
172071) and registered in England No. 1331817. In the European
Economic Area (“EEA”), information is issued by PGIM Private
Capital (Ireland) Limited with registered office: Pramerica Drive,
Letterkenny Business and Technology Park, Letterkenny, Co Donegal,
F92 W8CY, Ireland. PGIM Private Capital (Ireland) Limited is
authorized and regulated by the Central Bank of Ireland and
registered in Ireland under company number 635793 operating on the
basis of a European passport. In certain EEA countries, information
is, where permitted, presented by PGIM Private Capital Limited in
reliance of provisions, exemptions or licenses available to PGIM
Private Capital Limited under temporary permission arrangements
following the exit of the United Kingdom from the European Union.
These materials are issued by PGIM Private Capital Limited and/or
PGIM Private Capital (Ireland) Limited to persons who are
professional clients as defined under the rules of the FCA and/or
to persons who are professional clients as defined in the relevant
local implementation of Directive 2014/65/EU (MiFID II).
CONNECT WITH US: Visit pgim.com Follow on LinkedIn
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version on businesswire.com: https://www.businesswire.com/news/home/20240717591924/en/
MEDIA Guy Nicholls +1 973 204 1648
guy.nicholls@pgim.com
Prudential Financial (NYSE:PRU)
過去 株価チャート
から 6 2024 まで 7 2024
Prudential Financial (NYSE:PRU)
過去 株価チャート
から 7 2023 まで 7 2024
