Prudential Capital Group reaches $10 billion in annual originations

Published on Tuesday, 31 January 2012 13:35 Written by TradersHuddle Staff

CHICAGO-( Business Wire )-

Prudential Capital Group, a source of private capital for middle-market, public and private companies, expects to have more than $10 billion to invest in 2012, after reaching that amount in 2011, the company announced today. The company is an investment business of Prudential Financial Inc. (NYSE: PRU).

The $10 billion in 2011 originations is a milestone for Prudential Capital, which has more than doubled its annual originations over the last 10 years. Notably, the company continued to provide financing and saw its most significant growth through the decade’s most volatile economic conditions.

“Amid constantly changing markets, private debt capital continues to play a key role in helping companies take advantage of near-term opportunities and to plan for the future,” said Allen Weaver, senior managing director and head of Prudential Capital Group. “We are proud that so many companies continue to turn to us for financing, especially with so much uncertainty in the global financial markets.”

The company also announced that it will be opening a new office in Minneapolis, along with a series of executive changes that position its U.S. regional corporate finance platform for expansion. The changes enable the company to continue to respond to new opportunities for financing and strengthen the network that serves current companies. Prudential Capital has U.S. offices in Atlanta, Chicago, Dallas, Los Angeles, New York, San Francisco and Newark, N.J. Globally, it has offices in London, Frankfurt and Paris.

“Our global network is not only critical to our success—it’s critical to the success of the companies we serve and to our investor clients,” Weaver said. “So, on the heels of the growth we have realized over the last 10 years, we are investing in those relationships by enhancing the strength of our regional network to maintain the consistency of close relationships we’ve established with our clients.”

Prudential Capital Group has named Robert Derrick and Scott von Fischer, who are both managing directors, co-heads of U.S. corporate finance. Derrick, formerly head of the Atlanta office, now oversees the corporate finance business in New York, Atlanta, and Dallas. Von Fischer, who led the Chicago office, oversees the corporate finance business in Chicago, San Francisco and Los Angeles offices. Both report to Weaver and have also been named principals for Prudential Capital Partners, the company’s mezzanine finance arm.

Replacing Derrick in Atlanta is Billy Greer, while William Engelking replaces von Fisher in Chicago. Elsewhere around the U.S., the company has appointed the following U.S. corporate finance office heads: Julia Buthman in Dallas, Mathew Douglass in New York, Mitchell Reed in San Francisco and Jason Richardson in Los Angeles. All have been promoted to managing director from senior vice president. The company also appointed Peter Pricco, vice president, to lead the new Minneapolis office.

Said Weaver, “One of the most important components of our success has been the continuity of our staff and the consistency of our approach with companies. The changes announced today will maintain that important continuity and enable Prudential Capital to continue to deliver consistent, high quality service to our clients.”

The company has also created the Energy Finance Group, a unit dedicated to power, oil and natural gas-related investments. Managing Director Randy Kob leads the new Dallas-based group. Managing Director Ric Abel will continue to oversee the power-related investments activity (formerly known as the Electric Finance Group), while Brian Thomas, promoted to managing director from senior vice president, will oversee oil and gas investment activity, both reporting to Kob.

Additionally, Managing Director Paul Meiring, longtime head of the company’s New York office, has joined Prudential Capital Partners as a dedicated principal. Finally, Managing Director Stephen Demartini, who has had responsibility for the San Francisco and Los Angeles offices, will be retiring from Prudential in the second half of 2012.

Prudential Capital Group has been a leading provider of private debt, mezzanine and equity securities to companies worldwide for more than 70 years. Managing a portfolio of $60 billion as of September 30, 2011, Prudential Capital offers senior debt and mezzanine capital, leveraged leases, credit tenant leases, and equipment finance to companies, worldwide. The global regional office network has locations in Atlanta, Chicago, Dallas, Frankfurt, London, Los Angeles, Minneapolis, Newark, N.J., New York, Paris and San Francisco. For more information, please visit www.prudentialcapitalgroup.com.

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $883 billion of assets under management as of September 30, 2011, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/.

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