Prudential Capital Group announced today that it originated $9.5 billion in private capital investments on behalf of institutional investors in 2007. The company, a source of private debt and equity capital for public and private companies, has an appetite for nearly $10 billion in private placements for 2008. The company is an investment business of Prudential Financial Inc. (NYSE: PRU)
For 2007, the investments were primarily fixed- and floating-rate senior debt, subordinated debt and equity in 200 companies worldwide. Investments in North America accounted for $7.7 billion, while $1.8 billion was invested in companies outside of North America, primarily in the UK and Europe. Prudential Capital Group completed nearly 60 percent of its total 2007 investments between July and December, when the credit markets turned volatile.
“Our relationship-based approach and capability to provide private capital across the risk spectrum has enabled us to meet the needs of companies not only during stable and robust market conditions, but also during the times when market conditions become more unstable,” said Allen Weaver, senior managing director and head of Prudential Capital Group. “In 2008, we will continue to be a consistent provider of private capital to growing, middle-market companies.”
Prudential Capital Group has been a leading provider of private capital to companies for more than 70 years, investing private debt and equity securities worldwide. Prudential Capital manages a portfolio of more than $42 billion (as of 12/31/07). The global regional office network has locations in Atlanta, Chicago, Dallas, Frankfurt, London, Newark, N.J., New York, and San Francisco. For more information, please visit www.prudentialcapitalgroup.com.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $648 billion of assets under management as of December 31, 2007, has operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company’s well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. For more information, please visit www.prudential.com.