Prudential Capital Group Focused on Growth

February 01, 2012 at 05:59 AM

Share & Print

Prudential Capital Group managed to originate $10 billion in 2011, more than doubling its annual originations over the last 10 years making one of the most trying economic times in recent memory a period of substantial growth for the investment business of Prudential Financial Inc., (NYSE: PRU).

Prudential Capital Group, a supplier of private capital for both public and private middle- market companies expects to invest the $10 billion originated in 2011 throughout 2012.

"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.

Also announced was the opening of a new office in Minneapolis that adds to domestic offices in Atlanta, Chicago, Dallas, Los Angeles, New York, San Francisco and Newark, NJ.

With growth on its mind, the company also announced some executive changes to help facilitate expansion. Robert Derrick and Scott von Fischer, both managing directors, have been made co-heads of US corporate finance. Derrick, former head of the Atlanta office and oversee corporate finance in New York, Atlanta and Dallas while Von Fischer, former head of the Chicago office will do the same in Chicago, San Francisco and Los Angeles. Peter Pricco, vice president, will lead the new Minneapolis office.

The company also announced the creation of the Energy Finance Group which will focus on power, oil and natural gas-related investments. Managing Director Randy Kob will lead the new Dallas-based group.

NOT FOR REPRINT