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abstract
Press Release

PGIM Private Capital provides $14.9B of senior debt and junior capital globally in 2024PGIMPrivateCapitalprovides$14.9Bofseniordebtandjuniorcapitalgloballyin2024

By PGIM Global Communications — Mar 3, 2025

3 mins

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CHICAGO, March 4, 2025 – PGIM Private Capital provided $14.9 billion of senior debt and junior capital to more than 238 middle-market companies and projects globally in 2024. PGIM Private Capital is a leading source of private debt for public and private companies and is the private capital arm of PGIM, the $1.38 trillion global management business of Prudential Financial, Inc. (NYSE: PRU).

Matt Douglass, senior managing director and head of PGIM Private Capital, commented: “The pace of originations was strong throughout 2024, surpassing the previous year, and represents the continued demand from a wide range of middle-market companies and projects for private credit solutions.

Media Contact

Guy Nicholls

+1 973 204 1648

guy.nicholls@pgim.com

“We expect 2025 to be another busy year for originations with borrowers continuing to value our collaborative approach as we strive for certainty of execution against an ambiguous economic and uncertain geopolitical backdrop.”

“We expect 2025 to be another busy year for originations with borrowers continuing to value our collaborative approach as we strive for certainty of execution against an ambiguous economic and uncertain geopolitical backdrop.”

Highlights:

  • $10.5 billion of investment-grade investments, $3.9 billion of below-investment-grade investments, and $574 million of mezzanine and private equity investments.
  • 116 new issuers across a range of industries added to the portfolio, and 122 existing borrower companies returned for further funding.
  • $10.1 billion in Corporate investments across North America, the U.K., Europe, Latin America, and Australia.
  • $4.7 billion in real assets sectors, including energy, power, infrastructure, and credit tenant lease financing.
  • Over $2.5 billion in direct lending transactions, across 60 transactions.

PGIM Private Capital’s Direct Lending platform continues to expand, maintaining strong origination activity globally. With a presence across the U.S., Europe, and Australia, the platform has reliably deployed capital, cultivating a variety of sponsored and non-sponsored relationships. Additionally, in 2024, the Real Assets platform originated $3.1 billion in energy and power transactions, $1.2 billion in infrastructure investments, and $381 million in credit tenant lease transactions.

Key Transactions:

  • The financing of Hudson Valley Parking Trust’s acquisition of ICON Parking, the largest parking operator in New York City.
  • The first U.S. Private Placement transaction with Rubis Energie, a global leader in energy and bitumen distribution operating across 40 countries in Europe, Africa, and the Caribbean.

PGIM Private Capital is one of the largest global private capital providers, investing in private debt and equity for 100 years. Through a patient relationship-based approach and cross-border financing experience with local market knowledge, the global team has committed capital through market cycles to help investors improve portfolio outcomes.

ABOUT PGIM PRIVATE CAPITAL

PGIM Private Capital manages a $106.6 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. 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 Dec. 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 $1.38 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 knowledge 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 Dec. 31, 2024.

  • By PGIM Global Communications

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For Professional Investors only.* All investments involve risk, including the possible loss of capital.

This material is for informational and educational purposes only and should not be construed as investment advice or an offer or solicitation in respect of any products or services to any persons who are prohibited from receiving such information under the laws applicable to their place of citizenship, domicile or residence. PGIM is the principal asset management business of Prudential Financial, Inc. and a trading name of PGIM, Inc. and its global subsidiaries. PGIM, Inc. is a registered investment adviser with the U.S. Securities and Exchange Commission (“SEC”). Registration with the SEC does not imply a certain level of skill or training.

The information on this website is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. In making the information available on this website, PGIM, Inc. and its affiliates are not acting as your fiduciary.    

In the United Kingdom, this website may be issued by PGIM Private Alternatives (UK) Limited or PGIM Private Capital Limited.  In the European Economic Area (“EEA”), this website may be issued by PGIM Private Capital (Ireland) Limited or PGIM Luxembourg S.A. or PGIM Real Estate Germany AG.

PGIM, Inc. has its headquarters at 655 Broad Street, Newark, NJ 07102. PGIM Private Capital (Ireland) Limited has its registered office at IDA Business Park, Letterkenny, Co. Donegal, F92 FP83, Ireland. PGIM Private Capital (Ireland) Limited is authorised and regulated by the Central Bank of Ireland and registered in Ireland under company number 635793 operating on the basis of a European passport. PGIM Limited and PGIM Private Alternatives (UK) Limited have their registered offices at Grand Buildings, 1-3 Strand, Trafalgar Square, London WC2N 5HR. PGIM Limited is authorised and regulated by the Financial Conduct Authority (“FCA”) of the United Kingdom (Firm Reference Number: 193418). PGIM Private Alternatives (UK) Limited is authorised and regulated by the FCA of the United Kingdom (Firm Reference Number: 181389). PGIM Private Capital Limited has its registered address at 1 London Bridge, London SE1 9BG and is authorised and regulated by the FCA of the United Kingdom (Firm Reference Number: 172071). PGIM Luxembourg S.A., Netherlands Branch is registered with the Netherlands Chamber of Commerce under number 85998877 and has its local offices at Gustav Mahlerlaan 1212, 1088LA Amsterdam, The Netherlands. PGIM Luxembourg S.A. has its registered address at 2 Boulevard de la Foire, L-1528 Luxembourg and is authorised and regulated by the Commission de Surveillance du Secteur Financier (“CSSF”) in Luxembourg (registration number A00001218). PGIM Real Estate Germany AG has its registered address at Wittelsbacher Platz 1, 80333 Munchen, Germany and is authorised and regulated by Bundesanstalt für Finanzdienstleistungsaufsicht (“BaFin”) in Germany (registration number 10138142).

In Japan, information is provided by PGIM Japan Co., Ltd. (“PGIM Japan”) and/or PGIM Real Estate (Japan) Ltd. (“PGIMREJ”).  PGIM Japan, a registered Financial Instruments Business Operator with the Financial Services Agency of Japan offers various investment management services in Japan.  PGIMREJ is a Japanese real estate asset manager that is registered with the Kanto Local Finance Bureau of Japan.

In Hong Kong, information is provided by PGIM (Hong Kong) Limited, a regulated entity with the Securities & Futures Commission in Hong Kong to professional investors as defined in Section 1 of Part 1 of Schedule 1 of the Securities and Futures Ordinance (Cap. 571). In Singapore, information is issued by PGIM (Singapore) Pte. Ltd. (“PGIM Singapore”), a regulated entity with the Monetary Authority of Singapore under a Capital Markets Services License to conduct fund management and an exempt financial adviser. This material is issued by PGIM Singapore for the general information of “institutional investors” pursuant to Section 304 of the Securities and Futures Act 2001 of Singapore (the “SFA”) and “accredited investors” and other relevant persons in accordance with the conditions specified in Section 305 of the SFA. In South Korea, information is issued by PGIM, Inc., which is licensed to provide discretionary investment management services directly to South Korean qualified institutional investors on a cross-border basis.   

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. 

*PGIM.com/Podcasts and its content is intended for informational or educational purposes only and is not directed exclusively to Professional Investors. 

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