CHICAGO--(BUSINESS WIRE)--Pricoa Capital Group, the international private capital arm of PGIM, has added a local investment team in Sydney, Australia, as it continues to build relationships with and provide long-term capital to strong middle market companies in Australia and New Zealand. PGIM is the US$1 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU), which is headquartered in the United States.
Pricoa Capital Group, which also invests in the U.K., Europe, and Latin America, has invested in Australia for more than two decades, with an increased focus over the past five years. Pricoa Capital’s current Australia/New Zealand portfolio has grown to nearly US$3 billion*, 12 percent of Pricoa Capital Group’s overall cross border portfolio of US$23 billion*.
“Australia is one of the most dynamic and exciting markets within our global reach and thus it makes sense for us to have people on the ground to expand our business,” said Marie Fioramonti, managing director and head of Pricoa Capital Group, based in Chicago.
“Pricoa Capital Group is a relationship-based capital provider,” said Michael Jones, vice president, who manages the 35 company investment relationships in Australia and New Zealand. “It’s a business imperative for us that we make the commitment to know and understand clients’ local economy and culture to truly understand their businesses. Having a local presence demonstrates our commitment and fosters a long-term relationship with companies.”
Pricoa Capital Group in Sydney is the private placement division of PGIM Australia Pty Ltd., which also operates PGIM Real Estate Group, a real estate investment management business. PGIM Australia Pty Ltd., located in Australia Square in Sydney’s CBD, is dedicated to serving the needs of PGIM clients in the region. The company operates in the U.S. as Prudential Capital Group.
“This is an incredible opportunity for the team and Pricoa Capital’s growth in the region,” said Josh Shipley, senior vice president, who has covered the territory for the last decade. “Staffing a local office enables us to serve clients in a more efficient and accessible way, while providing the team with greater opportunities to build relationships with prospective clients.”
Pricoa Capital Group has been a leading provider of international private capital to companies outside of North America more than 20 years; and manages a total portfolio of more than $23 billion as of December 31, 2016. Pricoa Capital is part of the global asset manager, Prudential Capital Group, a leading provider of private debt, mezzanine and equity securities to companies worldwide for more than 75 years. Managing a total portfolio of nearly $77 billion as of December 31, 2016. Prudential Capital offers senior debt and mezzanine capital, leases, and equipment finance to middle-market companies worldwide. The global network has investment team locations in Atlanta, Chicago, Dallas, Frankfurt, Germany; London, Los Angeles, Minneapolis, Minn.; Newark, N.J.; New York, Milan, Paris, San Francisco, and now, Sydney, Australia. For more information, please visit www.prudentialcapitalgroup.com.
About PGIM and Prudential Financial, Inc.
With 14 consecutive years of positive third-party institutional net flows, PGIM, the global asset management businesses of Prudential Financial, Inc. (NYSE: PRU), ranks among the top 10 largest asset managers in the world with more than $1 trillion in assets under management as of Dec. 31, 2016. PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including fundamental equity, quantitative equity, public fixed income, private fixed income, real estate and commercial mortgages. Its businesses have offices in 16 countries across five continents.
Prudential Financial’s additional businesses offer a variety of products and services, including life insurance, annuities and retirement-related services. For more information about PGIM, please visit http://www.pgim.com. For more information about Prudential, please visit www.news.prudential.com. The company is not affiliated in any manner with Prudential plc of the United Kingdom.