In 2023 PGIM Private Capital continued to be a consistent capital provider to UK and Irish borrowers. We remained focussed on developing long-term funding relationships with companies, consistent with our philosophy of being a funding partner through the cycle.
We are pleased to share some 2023 highlights:
- 36 transactions across the credit spectrum, totalling £1.6Bn invested. Borrowers raised capital for a wide range of purposes, including investment, refinancing, and interest rate management.
- 25 Investment Grade transactions totalling £1.1Bn, providing long-term fixed rate capital with a high proportion of bilateral activity seen during the year (79% bilateral excluding infrastructure).
- 5 Below Investment Grade transactions totalling £254mm, providing long-term fixed rate capital across a range of sectors.
- 6 Direct Lending transactions totalling £235mm, providing floating rate stretch-Senior financing. 4 of the 6 were with non-sponsor owned businesses.
- £1.2Bn of Shelf capacity added, resulting in our partner companies maintaining over £2Bn of undrawn capacity on Shelves.
- Continued support for Mezzanine investments, where PGIM holds patient and flexible Subordinated Debt and Minority Equity.
Select Transactions
*Sources of data: PGIM Private Capital as of 31/12/2023
For more information, please contact,
Ed Jolly
Managing Director
Tolgar Sirvanci
Managing Director
Ed Barker
Managing Director
Michael Marsh
Principal
Rhiannon Ledger
Principal
Adam Shield
Principal
Ruarih Gilmour
Principal
Daryl Skinner
Principal
February 27, 2024
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