2024 Real Assets Mid-Year Review

We supported existing borrowers and formed new relationships in North America, Europe, Australia, and Latin America, providing financing solutions via multiple structures and currencies. We remain focused on developing long-term relationships with companies, consistent with our philosophy of being a funding partner through the cycle.

Highlights from our team’s 2024 activity include:

• Invested $3.0 billion across investment grade, below investment grade, and mezzanine opportunities in North America, Europe, Australia, and Latin America.
• Supported 23 new lending relationships and 14 existing borrowers.
• Energy provided over $1.5 billion for both new names and existing relationships with ticket sizes ranging from $40 to $225 million. These fundings were utilized for HoldCo / sponsor back-leverage, capital expenditures, refinancing existing indebtedness, growth capital and acquisition financings.
• Power invested over $800 million in North America and Europe across 9 transactions consisting of 5 power projects, 2 electric cooperatives, 1 electric utility and 1 district heating company. Five of these transactions were directly sourced, and 8 are new borrowers within the PPC portfolio.
• Infrastructure provided capital for both new names and existing relationships with ticket sizes ranging from $25 to $100 million+. These financings were issued across multiple currencies and 6 countries in tenors ranging from 7 to 30 years.
• The structured credit initiative saw continued growth, with expansion into fund finance, new esoteric asset classes, and additional deployment in private ABS energy transactions.

Select Transactions:

*Source: Prudential Private Capital, as of 06/30/2024

Our Real Assets Platform:

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We look forward to continuing to build enduring relationships and helping our partners achieve their long-term capital needs in 2024.