Prudential Capital Group has launched a new office in Milan. Prudential Capital Group, which does business in Europe as Pricoa Capital Group, is an investment business of Prudential Financial Inc.
February 18, 2015 11:03 AM Eastern Standard Time
CHICAGO–(BUSINESS WIRE)–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.