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Alternative Market Briefing

PGIM Private Capital wraps up the sixth fund at $2.23bn

Monday, December 21, 2020

Laxman Pai, Opalesque Asia:

PGIM Private Capital, a Chicago, Illinois-based private debt investment arm of PGIM, announced today a raise of USD 2.23bn in total capital commitments for its sixth mezzanine fund, PGIM Capital Partners VI, at final close.

According to a press release from PGIM, the $1.4 trillion global investment management businesses of Prudential Financial, the fund is the largest-ever mezzanine fund for PGIM Private Capital, is 24% bigger than its predecessor fund.

PGIM Capital Partners VI closed with 24 investors across five countries and three continents, including significant, re-up support from existing limited partners.

"Throughout the global pandemic and resulting market volatility, we have continued to deploy flexible junior capital to the middle-market," said Jeff Dickson, executive managing director and head of Alternatives, PGIM Private Capital.

Jeff added: "Our long-term, patient approach to investing has served us, our borrowers and our investors well during this time of uncertainty. We appreciate the continued confidence of our investor base, and believe this successful fundraising effort is a testament to the strategy and value proposition of PGIM Private Capital in the middle-market."

The Fund VI strategy, much like its previous five funds, will continue to pursue middle-market financing opportunities primarily within the United States, Canada, the U.K., and Western Europe.

"Our funds have been cycle-tested," said Al......................

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