PGIM PRIVATE CAPITAL

PGIM Private Capital is the firm’s private debt investment arm. We’ve been investing in private debt for more than 75 years and have managed assets on behalf of other institutions since 1976. PGIM Private Capital manages a private debt portfolio of nearly $87 billion, including nearly $18 billion on behalf of non-affiliated institutions. 

OVERVIEW

 

ESTABLISHED

75+ years ago

 

INVESTMENT FOCUS

Private Debt

INVESTMENT PROFESSIONALS

189

 

LOCATIONS

Atlanta, Chicago, Dallas, Frankfurt, London, Los Angeles, Mexico City,1 Milan, Minneapolis, Newark, New York, Paris, San Francisco and Sydney2

$86.5 BILLION

ASSETS UNDER MANAGEMENT

BUSINESS HIGHLIGHTS


Private Placement Size and Scale

  • One of the largest private placement investors, worldwide 
  • Among the largest institutional investors with more than $12.5 billion in private capital invested in 2018 across the risk spectrum 
  • Specialist industry teams across infrastructure, energy, credit tenant lease and commercial asset financing 

 

Direct, Bi-lateral Origination

  • 14 Regional offices and a direct calling model 
  • 58% of deal flow done on a bilateral basis in 2018 


Disciplined & Conservative Credit Culture

  • Managed throughout economic and business cycles for over 75+ years 
  • Disciplined credit process with 30 person senior management team averaging 27 years of asset management experience 

 

Investment Vehicles

  • Investment Grade: Privest, Privest +, Single Investor Accounts, Pricoa Sterling Corporate Bond Fund 
  • High Yield: Privest Plus, Single Investor Accounts 
  • Mezzanine: Corporate Fund I-V, Energy Fund I 
  • Non-USD Fund Structures / Single Investor Account


Product Launch History

1976 

PRIVEST

2001

Pricoa Capital Partners, L.P. 

2004

PRIVEST Plus 

2005

Pricoa Capital Partners II, L.P.

2008

Pricoa Capital Partners III, L.P. 

2012

Pricoa Sterling Corporate Bond Fund
Pricoa Capital Partners IV, L.P. 

2016

Pricoa Capital Partners V, L.P. 

2018

Pricoa Capital Energy Partners, L.P. 

 

INVESTMENT PHILOPSOPHY

PGIM Private Capital utilizes a consistent, patient and long-term focused investment strategy which leverages our substantial scale, relationships, and experience. While private placements are known to be “buy-and-hold,” our approach is to the contrary. We take an active effort to both underwrite and manage via a direct relationship model, establishing trust and value beyond the transaction, minimizing surprises and ultimately our loss experience. 

 Five Key Strategic Elements 

  • Focus on the Middle Market, where we believe better value can be found 
  • Broad Sourcing Capabilities, to enable selectivity and enhance underwriting and management 
  • Lead Role in Financings, to better control the investment outcomes of our funds 
  • Active Portfolio Management, where our involvement drives return 
  • Value-Oriented Approach, which mitigates variability 

ASSETS UNDER MANAGEMENT BY INVESTMENT CAPABILITIES

 

 

 

INVESTMENT CAPABILITIES AUM ($BILLIONS)
Investment Grade $76.2
Below Investment Grade $7.4
Mezzanine $2.5
Equity $0.4
Total AUM $86.5

EXAMPLE INVESTMENTS

 

ACQUISITION OIL CORP

$10M Senior Secured Revolver

$10M Subordinated Notes 

INTERFACE SECURITY SYSTEMS

$100M Subordinated Notes 

$80M Preferred Equity 

CENTURY GAMING TECHNOLOGIES

$29M Senior Subordinated Debt 

$14.5M Junior Subordinated Debt 

LINK SNACKS

$45M Senior Secured Notes 

LEADERSHIP

Allen Weaver Senior Managing Director

Allen A. Weaver is the Senior Managing Director and Head of PGIM Private Capital, managing a portfolio of private placements and mezzanine investments through its Regional Office Network.

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CONTACT

More Information

Contact Page

CONTACTS

 

Albert Trank 
Executive Managing Director 
Institutional Asset Management 
albert.trank@pgim.com 

Michael Campion
Senior Vice President 
Institutional Asset Management 
michael.campion@pgim.com 

Cheryl Demetris 
Director 
Institutional Asset Management 
cheryl.demetris@pgim.com 

Allison Lam  
Senior Associate 
Institutional Asset Management  
allison.lam@pgim.com  

Matthew Harvey
Managing Director
Direct Lending  
matthew.harvey@pgim.com

Stephen Szejner
Managing Director 
PGIM Capital Partners 
stephen.szejner@pgim.com

Randall Kob
Executive Managing Director
PGIM Energy Partners
randall.kob@pgim.com  

Debra Hemsey
Managing Director  
PGIM Energy Partners  
debra.hemsey@pgim.com

Matthew Baker
Managing Director 
PGIM Energy Partners  
matt.baker@pgim.com

OUR BUSINESSES

 

PGIM Fixed Income

A leading provider of global fixed income solutions.
 

Assets

$776 Billion

Established

1928

Jennison Associates

A leading fundamental active equity and fixed income manager.
 

Assets

$176.4 Billion

Established

1969

QMA

A pioneer of quantitative investing, providing equity and global multi-asset solutions.

Assets

$121.8 Billion

Established

1975

Pricoa Capital Group

A leading manager of private fixed income portfolios.
 

Assets

$86.5 Billion

Established

75+ years ago

PGIM Real Estate

A global manager of real estate equity, debt, and securities investment strategies.

Assets

$171.2 Billion*

Established

1970

PGIM Real Estate Finance

An international commercial, multifamily, and agricultural mortgage finance business.

Assets

$171.2 Billion*

Established

1997

PGIM Global Partners

An operator of asset management companies in select markets outside the U.S.

Assets

$94.3 Billion

Established

1998

PGIM Investments

PGIM Investments offers a broad range of funds to meet the long term needs of investors.

Assets

$110 Billion

Established

1987

 

Sources of data (unless otherwise noted) are as of 3/31/2019.
  1. Operates through PGIM Real Estate Mexico S.C.
  2. Operates through PGIM (Australia) Pty Ltd.