Prudential Capital Group announced today it has opened a new Milan
office as it continues to build relationships with and provide long-term
capital to strong Italian middle market companies and expand its
presence in Europe. Prudential Capital Group is an investment business
of Prudential Financial Inc. (NYSE:PRU).
The company, which does business in Europe as Pricoa Capital Group, has
had a presence in Italy for more than a decade with a greater focus over
the past five years, and a current portfolio of about $1.5 billion,
through lending relationships with 15 companies.
“Given the strong roster of impressive family-controlled and
middle-market companies in Italy, we believe our approach of
relationship-based lending fits well in this region. We are able to
provide a valuable alternative to traditional bank financing,” said
Marie Fioramonti, managing director and head of Pricoa Capital Group.
“We have stood by this market through the global economic crisis and
eurozone economic crisis, and we are looking to continue building on
existing relationships and creating new ones,” explained Joshua Shipley,
senior vice president.
Pricoa Capital Group is one of the few investors that continued to
invest in Italian corporates throughout the recent global economic and
eurozone crises, offering an alternate source of capital as banks
reduced direct lending. The new office allows Pricoa to continue serving
its clients in a more efficient and accessible way, while providing
greater opportunities to build relationships with prospective clients.
Initially, the new office will house one investment team, with room for
further expansion, dedicated to serving the needs of Pricoa’s clients in
the region.
“Opening this office allows us to be physically closer to our existing
clients and offers greater flexibility in hiring local professionals who
understand the market, helping us to meet our clients’ needs,”
Fioramonti said.
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 $71.6 billion as of December 31, 2014,
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, and now, Milan. For more
information, please visit www.prudentialcapitalgroup.com.
Prudential Financial, Inc. (NYSE:PRU), a financial services leader with
more than $1 trillion of assets under management as of December 31,
2014, 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 and
investment management. 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 www.news.prudential.com.
Copyright Business Wire 2015