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PGIM Private Capital Invests $65.0M in ED&F Man Capital Markets US Holdings, Inc.
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
PGIM Private Capital has secured a $65 million Senior Secured Credit Facility for ED&F Man Capital Markets US Holdings, Inc.. This facility includes a $50 million First Lien Term Loan and a $15 million Delayed Draw Term Loan. The funding aims to enhance growth opportunities for ED&F Man, as stated by both PJ LaFemina of PGIM and Christopher J Smith, the company's Global CEO. PGIM manages over $100 billion in private placements and is a significant player within the $1.4 trillion Prudential Financial investment management system.
Positive
Secured a $65 million credit facility enhances financial stability for ED&F Man.
Partnership with PGIM reinforces ED&F Man's strategic growth capabilities.
Funding supports diversification across various asset classes.
Negative
None.
CHICAGO--(BUSINESS WIRE)--
PGIM Private Capital provided a $65.0M Senior Secured Credit Facility consisting of a $50.0M Senior Secured First Lien Term Loan and a $15.0M committed Delayed Draw Term Loan to ED&F Man Capital Markets US Holdings, Inc., a global financial brokerage business. PGIM Private Capital is a leading source of private debt for public and private companies and is the private capital arm of PGIM, the $1.4 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).
“We are pleased to provide funding to ED&F Man Capital Markets to provide strategic financing for the business as they pursue the next phase of growth. Our experience with similar financings in this sector introduced us to the opportunity to work with the Firm’s management team, forming a strong, direct partnership. Our relationship-oriented approach is reflected in the Firm’s mission centered on integrity, trust, client care and astute risk management,” saidPJ LaFemina, Vice President of PGIM Private Capital’s Direct Lending group.
Christopher J Smith, Global CEO of ED&F Man Capital Markets, said:
“Our partnership with PGIM Private Capital’s Direct Lending group is built on a relationship whose foundations go back over many years. The provision of $65m of strategic financing will enable us to leverage the significant opportunities we see as a leading provider in global capital markets operating at the heart of the financial services ecosystem. Our Firm has a resilient and proven track record, a highly executable strategy, and clear vision for the future This facility will enable us to develop and achieve our financial and strategic goals.”
Matthew Harvey, Managing Director and Head of PGIM Private Capital’s Direct Lending group, said:
“We look forward to supporting ED&F Man Capital Markets’ strategic journey and working closely with their leadership team. Our Direct Lending strategy is based on close, long-term relationships with strong management teams, which was reflected through the Firm’s outstanding leadership. Our thorough understanding and experience with financing strategies and flexible structures enabled us to provide a valuable solution as ED&F Man Capital Markets further invests in their business.”
- Ends –
About ED&F Man Capital Markets
ED&F Man Capital Markets was founded in 2012, and today operates at the heart of the financial services ecosystem and is a leading provider in global capital markets
It has a global presence across the world’s major financial centres
It has a diverse range of asset classes resulting in a highly resilient business which offers a ‘one stop shop’ offering an unrivalled breadth of products and services: futures & options, metals, fixed income, equities, energy, and foreign exchange
About PGIM Private Capital PGIM Private Capital manages more than $20 billion in outside non-affiliated assets through its Institutional Asset Management unit and Alternative Investments unit, comprised of Direct Lending, PGIM Capital Partners and PGIM Energy Partners mezzanine funds. PGIM Private Capital manages a $100.2 billion portfolio of private placements and mezzanine investments through its regional office network (Atlanta; Chicago; Dallas; Frankfurt, Germany; London; Los Angeles; Madrid; Mexico City; Milan; Minneapolis; Newark, New Jersey; New York; Paris; San Francisco and Sydney) and purchases up to $13 billion annually in predominantly senior debt and junior capital. All data as of June 30, 2021. For more information, please visit pgimprivatecapital.com.
About PGIM
PGIM, the global asset management business of Prudential Financial, Inc. (PFI) (NYSE: PRU). With offices in 16 countries, 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 public fixed income, private fixed income, fundamental equity, quantitative equity, real estate and alternatives. For more information about PGIM, visit pgim.com.
Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.
