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Mar 4, 2022
 in 
Economics

2021 ​Year in ​Review

In 2021, we served our partners and remained focused on what matters most: long-term relationships and long-term, patient capital. As we start 2022, we are proud to share that we closed a record year of lending in 2021 - a testament to our unwavering commitment and stability during periods of continued volatility.

We are pleased to share some 2021 highlights:​

  • 246 transactions totaling $14.5 billion invested worldwide, closing the year with over $100 billion in assets under management.
  • 96 partners across a range of industries worked with us for the first time, and 126 existing borrower companies returned for further funding, demonstrating our continuation of existing partnerships and appetite for follow-on funding.
  • 149 investment grade partners totaling $12.0 billion, with the highest investment grade originations since 2017.
  • 32 below investment grade partners totaling $2.0 billion, including a $60 million below investment grade origination for Rougaroux Power Holdings, supporting a high-performing hydro facility, which is among the newest and largest hydroelectric facilities built in the U.S. in the last 30 years.
  • Strong activity in corporate finance around the world, including in Latin America with $556 million invested across 8 deals by our Mexico City office. Notably, the team closed a $90 million below investment grade origination for Procaps Group, S.A., a leading manufacturer of high-quality medicines, which marks our first investment in Colombia.
  • $1.6 billion invested across energy and power projects, including a joint effort between our Power and Mexico City teams for Tealov S.A., which will support the long-term reliability of the national electricity system in Uruguay and enable increased renewable energy production.
  • Closing of our first sustainable power deal, under the PGIM Sustainable Power Program.
  • Opening of our Madrid office, Prudential’s inaugural presence in Spain, with $417 million invested in 2021.
  • Strong activity in the UK and Europe, including a $88 million investment with Enpal, a Germany-based solar leasing company to finance the installation of more than 15,000 residential PV systems.
  • Record year of clubbing activity, with fourteen transactions closed, including a club deal with Ameritex, who teamed up with us given our existing relationship and range of capabilities we offer as a long-term partner.
“I always believed that Pricoa would be different. That's been proven in practice. There is involvement. There is interest. We're in it together.”

Mel Cooper, Chairman
ABI

Looking ahead to 2022, we are excited to continue building enduring local partnerships and providing customized capital solutions. We are grateful for the opportunity to get to know you and your business personally.

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Pricoa Private Capital (‘PPC’) is a trading name of PGIM, Inc. (‘PGIM’), the principal asset management business of Prudential Financial, Inc. ('PFI'), and it is also a trading name of PGIM Private Capital Limited and PGIM Private Capital (Ireland) Limited. In the United Kingdom, information is issued by PGIM Private Capital Limited with registered office: Grand Buildings, 1-3 Strand, Trafalgar Square, London, WC2N 5HR. PGIM Private Capital Limited is authorised and regulated by the Financial Conduct Authority (“FCA”) of the United Kingdom (Firm Reference Number 172071) and registered in England No. 1331817. In the European Economic Area (“EEA”), information is issued by PGIM Private Capital (Ireland) Limited with registered office: Pramerica Drive, Letterkenny Business and Technology Park, Letterkenny, Co Donegal, F92 W8CY, Ireland. PGIM Private Capital (Ireland) Limited is authorised and regulated by the Central Bank of Ireland and registered in Ireland under company number 635793 operating on the basis of a European passport. In certain EEA countries, information is, where permitted, presented by PGIM Private Capital Limited in reliance of provisions, exemptions or licenses available to PGIM Private Capital Limited under temporary permission arrangements following the exit of the United Kingdom from the European Union. These materials are issued by PGIM Private Capital Limited and/or PGIM Private Capital (Ireland) Limited to persons who are professional clients as defined  under the rules of the FCA and/or to persons who are professional clients as defined in the relevant local implementation of Directive 2014/65/EU (MiFID II).