Prudential Capital Group has announced rebranding of its global investment business as PGIM Private Capital.
The business is the private capital arm of PGIM, the $1.2 trillion global investment management business of Prudential Financial.
Following the change, PGIM Private Capital’s global origination network would adopt Prudential Private Capital as its new name.
According to the firm’s managing director and head of PGIM Private Capital, Allen Weaver, the new name would reinforce the connection to the global PGIM brand and would underscore the types of investment products it offered.
“Our vast origination network has been able to navigate cyclical and situational issues to provide private capital solutions that meet the demands of borrowers while generating consistent returns for investors,” he said.
PGIM Private Capital currently manages close to $18 billion in outside non-affiliated assets through its institutional asset management unit and alternative investments unit, comprised of direct lending, PGIM Capital Partners and PGIM Energy partners mezzanine funds.
Also, the firm managed an $86.5 billion portfolio of private placements and mezzanine investments through its regional office network and purchases up to $13 billion annually in predominantly senior debt and junior capital.