PGIM Private Capital provides nearly USD6.5bn in first half of 2021
PGIM Private Capital provided nearly USD6.5 billion of senior debt and junior capital to more than 100 middle-market companies and projects globally in the first half of 2021, marking the second largest first-half origination volume over the past decade, as markets across the globe begin to move beyond the pandemic.
PGIM Private Capital is a source of private debt for public and private companies and is the private capital arm of PGIM, the USD1.5 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).
“2021 has affirmed the strength of our global origination network and industry expertise, with a broad range of corporate finance and real assets transactions completed. Our global investment pace accelerated in the first half of 2021, demonstrating our unwavering commitment to supporting the financing needs of companies through any economic environment,” says Allen Weaver, senior managing director and head of PGIM Private Capital. “Throughout the past eighteen months, we have consistently provided capital and perspectives to our partners, while generating attractive returns for our investors worldwide.”
PGIM Private Capital has also seen strong activity in the UK and Europe, including a USD200 million green shelf facility with South West Water, which marks the company’s first sustainable private placement through their sustainable financing framework.
PGIM Private Capital’s Real Assets platform originated more than USD890 million in energy and power projects, including a USD60m below-investment-grade origination for Rougaroux Power Holdings, LLC, an indirect owner of a 192 MW operating hydroelectric project located in Louisiana.
Weaver says: “As the global economy continues to reopen, we look forward to maintaining our investment momentum and strong origination activity through the balance of the year.”