PGIM: Plan sponsors look to OCIO managers for institutional investment expertise
New research from PGIM sheds light on the use of outsourced chief investment officers (OCIOs) by defined contribution (DC) plan sponsors.
MEXICO CITY, October 16, 2018 - Prudential Capital Group opened a new Mexico City office* as it continues to build relationships with and provide long-term capital to strong companies in a wide range of industries in Latin America, the company announced today. Prudential Capital Group is a leading source of private capital for public and private companies and is the private capital arm of PGIM, the $1 trillion global investment management businesses of Prudential Financial, Inc. (NYSE: PRU).
“Prudential Capital has provided financing in Mexico for more than 40 years, and the Latin American portfolio has grown significantly in recent years,” said Marie Fioramonti, managing director and head of Prudential Capital’s cross-border originations. “We see Mexico as critical to our entire Latin American investment mission, given the strong growth of intra-regional trade and the need of growing businesses for a true financial partner,” said Fioramonti.
Since 2015, Prudential Capital has provided approximately $2.6 billion in financing to corporations, energy and infrastructure projects throughout Mexico and Latin America. “We’ve been able to meet the financing needs of companies with a longer-term and relationship-focused alternative to traditional financing sources,” added Fioramonti.
Prudential Capital is a consistent provider of financing through changing economic and political cycles. As an example, Prudential Capital provided $175 million to Controladora Mabe, a leading Mexican manufacturer of household appliances, shortly after the 2016 U.S. elections.
“The opening of the new office in Mexico City demonstrates our long-term commitment to the region,” said Jason Boe, senior vice president responsible for Prudential Capital’s activities in Mexico and Latin America. “Adding a local presence in Mexico is consistent with our strategy of developing closer relationships and allows us to best address the financing needs of existing and prospective clients.”
Initially, the new office will house five investment professionals, with room for further expansion.
About Prudential Capital Group
Prudential Capital Group has been a leading provider of private placements, mezzanine debt and equity, to companies for more than 75 years. Managing a portfolio of more than $81 billion as of June 30, 2018, Prudential Capital offers senior debt, mezzanine financing, leveraged leases, project financing, credit tenant leases as well as asset financing to companies, worldwide. The global regional office network has locations in Atlanta, Chicago, Dallas, Frankfurt, London, Los Angeles, Mexico City*, Milan, Minneapolis, Newark, New York, Paris, San Francisco and Sydney**. For more information, please visit prudentialcapitalgroup.com.
About PGIM and Prudential Financial, Inc.
With 15 consecutive years of positive third-party institutional net flows, PGIM, the global asset management businesses of Prudential Financial, Inc. (NYSE: PRU), ranks among the top 10 largest asset managers in the world with more than $1 trillion in assets under management as of June 30, 2018. 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 fundamental equity, quantitative equity, public fixed income, private fixed income, real estate and commercial mortgages. Its businesses have offices in 16 countries across five continents.
Prudential Financial’s other businesses also offer a variety of products and services, including life insurance, annuities and retirement-related services. For more information about PGIM, please visit pgim.com. For more information about Prudential, please visit news.prudential.com.
*Prudential Capital Group’s office in Mexico City is the private placement division of PGIM Real Estate Mexico S.C., a subsidiary of PGIM, Inc., which also operates a real estate division in Mexico.
**Operates through PGIM (Australia) Pty Ltd.