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: PGIM Private Capital, as of 06/30/2024
Our Real Assets Platform:
We look forward to continuing to build enduring relationships and helping our partners achieve their long-term capital needs in 2024.
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August 16, 2024
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