PGIM Private Capital provides nearly $6.5B in first half of 2021
PGIM Private Capital provided nearly $6.5 billion of senior debt and junior capital to more than 100 middle-market companies.
MADRID, 11 May 2021 – PGIM Private Capital has opened a new Madrid office as it continues to provide private capital solutions for its partners and generate attractive returns for investors. PGIM Private Capital is a leading source of private debt for public and private companies and is the private capital arm of PGIM, the $1.5 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).
The opening of the PGIM Private Capital’s Madrid office marks PGIM’s first Spanish office presence. “Our Spanish portfolio has grown significantly in recent years, and we have established numerous borrower relationships in Spain,” said Joshua Shipley, managing director at PGIM Private Capital. As one of the first financial institutions to offer private placement and mezzanine financing in Europe, PGIM Private Capital has invested more than €1.3 billion in Spain, including more than €1.0 billion invested since 2018.
“We look forward to continuing our investment focus in Spain, including growing the global presence of our real assets and alternatives platforms,” said Jose Ortiz, vice president at PGIM Private Capital and head of the Madrid office. Recently, PGIM Private Capital’s direct lending team provided €50 million to Grupo Secuoya, a leading provider of outsourcing services and audiovisual content to television networks in Spain and Latin America. “Our presence in Madrid is a critical component to our global investment strategy, allowing us to promote our expertise in Iberian industries, market conditions, trends, and customs,” added Ortiz.
The decision to open a new office in Madrid was a logical step in strengthening PGIM Private Capital’s global origination network. “Opening our Madrid office complements our existing European footprint in London, Paris, Frankfurt, and Milan, which will further support our long-term commitment to building real relationships with our partners,” said Marie Fioramonti, executive managing director and head of PGIM Private Capital’s corporate finance originations. “Our regional office network enables us to stay close to our partners and build new meaningful relationships, which has helped us achieve strong global origination activity even through times of market volatility and global uncertainty.”
“As PGIM’s inaugural presence in Spain, we are pleased to establish a local office in Madrid and strengthen our vast global origination network,” added Ortiz. Initially, the new office will house three investment professionals, with room for further expansion.
ABOUT PGIM PRIVATE CAPITAL
PGIM Private Capital manages more than US$20 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 US$97.7 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 US$13 billion annually in predominantly senior debt and junior capital. All data as of 31 March 2021. For more information, please visit pgimprivatecapital.com.
PGIM, the global asset management business of Prudential Financial, Inc. (PFI) (NYSE: PRU). PFI ranks among the top 10 largest asset managers in the world3 with US$1.5 trillion in assets under management as of 31 March 2021. With offices in 16 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 As of 31 Dec. 2020, net AUM is US$124.3 billion and AUA is US$42.8 billion.
2 Includes legacy lending through PGIM’s parent company, Prudential Financial, Inc.
3 PGIM is the investment management business of Prudential Financial, Inc. (PFI) is the 10th largest investment manager (out of 527 firms surveyed) in terms of global assets under management based on Pensions & Investments’ Top Money Managers list published on 1 June 2020. This ranking represents global assets under management by PFI as of 31 March 2020.
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 authorised 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 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. 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).