CHICAGO, July 16, 2025 – PGIM Private Capital provided $6.7 billion of senior debt and junior capital to more than 125 middle-market companies and projects globally in the first half of 2025. PGIM Private Capital is a leading source of private debt for public and private companies and is the private capital arm of PGIM, the $1.39 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).

“The first half of 2025 has been defined by macro-economic uncertainty, and in times like these we typically see resilient demand as borrowers with needs seek the assurance of a trusted financing partner with a reputation for lending through economic cycles. This year has been no different.” said Matt Douglass, head of Private Credit. “Our long-term approach and deep, global borrower relationships position us to capitalize on high-quality opportunities, many from repeat issuers who value our consistency. Looking ahead, we expect momentum to continue for customized financing and remain committed to delivering value to both our investors and borrowers through thoughtful structuring.”

First Half 2025 Activity:

• $4.6 billion of investment-grade investments, $2.0 billion of below-investment-grade investments, over $165 million of mezzanine and private equity investments.
• 51 new issuers across a range of industries added to the portfolio, and 76 existing borrower companies returned for further funding.
• $3.7 billion in Global Corporate Finance investments across North America, the U.K., Europe, Latin America and Australasia.
• $2.0 billion in real assets sectors, including energy, power, infrastructure, and credit tenant lease financing.
• Over $165 million of mezzanine investments, across 14 transactions.
• About $1.2 billion in Direct Lending transactions, across over 26 transactions in five countries.

PGIM Private Capital continued to originate a diverse range of corporate finance transactions, reflecting 18 new direct partnerships and 43 returning long-term issuers. Demonstrating our relationship-driven investment strategy, we provided follow-on financing to Link Snacks, a portfolio company since 2002, and expanded our platform with new issuers. Notably, our London team closed a £75 million investment in Speedy Hire plc, a leading tools and equipment hire services company in the U.K. and Ireland, and our Frankfurt team provided strategic succession financing to German-based Wiegand-Glas Group, a leading manufacturer of glass-packaging solutions for the beverage and food industry.

PGIM Private Capital’s Real Assets platform originated $1.0 billion in energy and power transactions, over $750 million in infrastructure investments, and nearly $250 million in credit tenant lease transactions globally. A key milestone was the successful completion of the first long-term, MXN-denominated private placement in Mexico’s infrastructure sector for Fibra EXI, a leading toll road concession operator in the country. The platform continues to prioritize the energy transition, closing nine transactions in the renewable space, including a $340 million investment in Vega, a leading national developer and operator of distributed solar and energy storage systems.

PGIM Private Capital’s Alternatives platform originated over $1.3 billion globally across mezzanine and direct lending strategies, driven by sustained demand for flexible capital. Activity was balanced across sponsored and non-sponsored transactions across Europe, the U.K., Australia, Latin America, and North America. Highlights include PGIM’s first Senior Private Placement combined with a mezzanine investment in Mexico for Interceramic and financing the acquisition of ACE Solutions, a U.S.-based industrial lubricants distributor, through a combination of direct lending, mezzanine and common equity.

ABOUT PGIM PRIVATE CAPITAL

PGIM Private Capital manages a $109.7 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 investments. 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 March 31, 2025. 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 $1.39 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 expertise 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 PGIM is the investment management business of Prudential Financial, Inc. (PFI). PFI is the 12th largest investment manager (out of 411 firms surveyed) in terms of worldwide institutional assets under management based on Pensions & Investments’ Top Money Managers list published June 2024. This ranking represents institutional client assets under management by PFI as of Dec. 31, 2023. Participation in the P&I ranking is voluntary and open to managers that have any kind of U.S. institutional tax-exempt AUM. Managers self-report their data via a survey. P&I sends the survey to previously identified managers and to any new managers asking to participate in the survey/ranking. No compensation is required to participate in the ranking.

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).