The asset manager with resources of 1.38 trillion US Dollars closed direct lending deals for 2.5 billion and subscribed bonds for 12.4 billion.
In 2024, PGIM Private Capital (fka Pricoa Capital), the private debt unit of Prudential Financial’ssubsidiary PGIM, issued senior and junior debt facilities worth 14.9 billion US Dollars that supported more than 238 companies globally (see here the press release).
The asset manager has 1.38 trillion of resources and closed 60 direct lending deals worth 2.5 billion and invested 12.5 billion in bonds (10.5 billion investment-grade bonds, 3.9 billion below-investment-grade and 574 million in mezzanine and private equity transactions). In 2024, PGIM supported 116 new issuers operating in several sectors and provided further support to 122 companies that previously financed.
Matt Douglass, senior managing director of PGIM Private Capital, said: “The pace of underwriting was strong throughout 2024, exceeding the previous year, and represents the continued demand for private credit solutions from a wide range of mid-market companies and projects. We anticipate that 2025 will be another strong year for funding operations, with funded companies continuing to appreciate our collaborative approach as we strive for certainty of execution in an ambiguous economic and uncertain geopolitical environment.”
In July 2024, PGIM supported Hudson Valley Parking Trust, the biggest New York City operator, for the acquisition of ICON Parking (see here the press release); and the first private placement transaction in the US with Rubis Energie, a global leader in energy and bitumen distribution operating in 40 countries in Europe, Africa and the Caribbean (see here the press release).
In Italy, PGIM Capital recently subscribed to a 70 million euros bond that the Bologna-based credit intelligence firm CRIF issued (see here a previous post by BeBeez).
