PGIM provides almost $5bn in private debt in H1 2020

PGIM Private Capital, the $90.6 billion private capital arm of PGIM, had a busy first six months of the year, providing $4.7 billion of senior debt and junior capital to middle-market companies and projects globally, including $3.4 billion from March to June during the COVID-19 pandemic. According to an announcement from the firm a total of $4.2 billion of investment grade investments and $3.3 billion in global corporate finance investments, across North America, the U.K., Europe, Latin America and Australasia. Roughly $1.4 billion of the whole was invested in real assets sectors energy, global infrastructure, lease and commercial asset financing. “Throughout the global pandemic and resulting market volatility, we have continued to be a reliable financial partner for our portfolio companies,” said Allen Weaver, senior managing director and head of PGIM Private Capital. “In times of stress, the steady, patient commitment our team brings in supporting the needs of our partners -- both investors and borrowers -- is more important than ever.” The firm purchases up to $13 billion annually in predominantly senior debt and junior capital. According to Weaver, the firm is cautiously optimistic regarding the future of its core middle market borrowers. “We remain committed to supporting them as economies across the globe slowly re-open,” he added. “We have been impressed with how our portfolio companies have handled the challenges of the pandemic and believe our investors will be well served by the quality of their management teams.”

PGIM provides almost $5bn in private debt in H1 2020

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