The Convergence of Public and Private Credit
Leveraging insights from investment professionals across our businesses, PGIM examines the forces driving convergence between public and private credit.
PGIM Private Capital expands Direct Lending presence in New York
CHICAGO, Sept. 23, 2022 – PGIM Private Capital has appointed David Thompson as part of an expansion of its U.S. regional coverage.
Thompson, based in New York, will lead the Direct Lending team focused on building middle-market relationships in New York and the broader Northeastern U.S.
He brings over 20 years of industry experience to the role with a particular emphasis on private credit deal sourcing and execution. Thompson previously spent six years at Brookfield Asset Management on the Special Investments and Principal Credit teams. Prior to Brookfield he was with Garrison Investment Group, GSC Group and Goldman Sachs.
Head of Direct Lending Matthew Harvey commented: “Our approach to direct lending relies on having teams of individuals who thoroughly understand and have well-developed networks in their local coverage markets. I am very pleased that we have attracted someone of Dave’s caliber to this position as we continue to grow our direct lending capabilities in both the U.S. and abroad.”
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The hire of Thompson comes amid an expansion in PGIM Private Capital’s direct lending capabilities that has seen the hiring of 10 new team members and the opening of three new Direct Lending offices over the last 18 months.
Thompson commented: “I am thrilled to be joining Matt and the rest of the PGIM team. The opportunity to help expand PGIM’s direct lending business to more sponsored and non-sponsored businesses in New York and the surrounding area is large and exciting.”
ABOUT PGIM PRIVATE CAPITAL
PGIM Private Capital manages more than $20.0 billion in outside non-affiliated assets through its Institutional Asset Management unit and Alternative Investments unit, comprised of Direct Lending, PGIM Capital Partners and PGIM Energy Partners mezzanine funds. PGIM Private Capital manages a $95.8 billion portfolio of private placements and mezzanine 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 $14.5 billion annually in predominantly senior debt and junior capital. All data as of June 30, 2022. For more information, please visit pgimprivatecapital.com.
ABOUT PGIM
PGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU), a leading global investment manager with more than $1.3 trillion in assets under management as of June 30, 2022. With offices in 17 countries, 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 public fixed income, private fixed income, fundamental equity, quantitative equity, real estate and alternatives. For more information about PGIM, 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.
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).
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