CHICAGO--(BUSINESS WIRE)--Mar 3, 2025--
PGIM Private Capital provided $14.9 billion of senior debt and junior capital to more than 238 middle-market companies and projects globally in 2024. PGIM Private Capital is a leading source of private debt for public and private companies and is the private capital arm of PGIM, the $1.38 trillion global management business of Prudential Financial, Inc. ( NYSE: PRU ).
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250303449071/en/
Matt Douglass, senior managing director and head of PGIM Private Capital, commented: “The pace of originations was strong throughout 2024, surpassing the previous year, and represents the continued demand from a wide range of middle-market companies and projects for private credit solutions.
“We expect 2025 to be another busy year for originations with borrowers continuing to value our collaborative approach as we strive for certainty of execution against an ambiguous economic and uncertain geopolitical backdrop.”
Highlights:
PGIM Private Capital’s Direct Lending platform continues to expand, maintaining strong origination activity globally. With a presence across the U.S., Europe, and Australia, the platform has reliably deployed capital, cultivating a variety of sponsored and non-sponsored relationships. Additionally, in 2024, the Real Assets platform originated $3.1 billion in energy and power transactions, $1.2 billion in infrastructure investments, and $381 million in credit tenant lease transactions.
Key Transactions:
PGIM Private Capital is one of the largest global private capital providers, investing in private debt and equity for 100 years. Through a patient relationship-based approach and cross-border financing experience with local market knowledge, the global team has committed capital through market cycles to help investors improve portfolio outcomes.
ABOUT PGIM PRIVATE CAPITAL
PGIM Private Capital manages a $106.6 billion portfolio of private placements, mezzanine, and direct lending investments through its regional office network (Atlanta; Chicago; Dallas; Frankfurt, Germany; London; Los Angeles; Madrid; Mexico City 1; Milan; Minneapolis; Newark, New Jersey; New York; Paris; San Francisco; and Sydney 2 ) and purchases up to $16 billion annually in predominantly senior debt and junior capital. PGIM Private Capital manages more than $20 billion in outside non-affiliated assets through its Institutional Asset Management unit and Alternative Investments unit, comprising Direct Lending, PGIM Capital Partners, and PGIM Energy Partners mezzanine funds. All data as of Dec. 31, 2024. For more information please visit pgimprivatecapital.com.
ABOUT PGIM
PGIM is the global asset management business of Prudential Financial, Inc. ( NYSE: PRU ). In 41 offices across 19 countries, our more than 1,450 investment professionals serve both retail and institutional clients around the world.
As a leading global asset manager, with $1.38 trillion in assets under management, 3 PGIM is built on a foundation of strength, stability, and disciplined risk management. Our multi-affiliate model allows us to deliver specialized knowledge across key asset classes with a focused investment approach. This gives our clients a diversified suite of investment strategies and solutions with global depth and scale across public and private asset classes, including fixed income, equities, real estate, private credit, and other alternatives. For more information 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.
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1 The Mexico City office operates through PGIM Real Estate Mexico S.C.
2 The Sydney office operates through PGIM (Australia) Pty Ltd.
3 As of Dec. 31, 2024.
“We expect 2025 to be another busy year for originations with borrowers continuing to value our collaborative approach as we strive for certainty of execution against an ambiguous economic and uncertain geopolitical backdrop.” -- Matt Douglass, Senior Managing Director and Head of PGIM Private Capital (Photo: Business Wire)
HAVANA (AP) — Cuban soldiers wearing white gloves marched out of a plane on Thursday carrying urns with the remains of the 32 Cuban officers killed during a stunning U.S. attack on Venezuela as trumpets and drums played solemnly at Havana's airport.
Nearby, thousands of Cubans lined one of Havana’s most iconic streets to await the bodies of colonels, lieutenants, majors and captains as the island remained under threat by the administration of U.S. President Donald Trump.
The soldiers' shoes clacked as they marched stiff-legged into the headquarters of the Ministry of the Armed Forces, next to Revolution Square, with the urns and placed them on a long table next to the pictures of those killed so people could pay their respects.
Thursday’s mass funeral was only one of a handful that the Cuban government has organized in almost half a century.
Hours earlier, state television showed images of more than a dozen wounded people described as “combatants” accompanied by Cuban Foreign Minister Bruno Rodríguez arriving Wednesday night from Venezuela. Some were in wheelchairs.
Those injured and the remains of those killed arrived as tensions grow between Cuba and the U.S., with Trump recently demanding that the Caribbean country make a deal with him before it is “too late.” He did not explain what kind of deal.
Trump also has said that Cuba will no longer live off Venezuela's money and oil. Experts warn that the abrupt end of oil shipments could be catastrophic for Cuba, which is already struggling with serious blackouts and a crumbling power grid.
Officials unfurled a massive flag at Havana's airport as President Miguel Díaz-Canel, clad in military garb as commander of Cuba's Armed Forces, stood silent next to former President Raúl Castro, with what appeared to be the relatives of those killed looking on nearby.
Cuban Interior Minister Lázaro Alberto Álvarez Casa said Venezuela was not a distant land for those killed, but a “natural extension of their homeland.”
“The enemy speaks to an audience of high-precision operations, of troops, of elites, of supremacy,” Álvarez said in apparent reference to the U.S. “We, on the other hand, speak of faces, of families who have lost a father, a son, a husband, a brother.”
Álvarez called those slain “heroes,” saying that they were an example of honor and “a lesson for those who waver.”
“We reaffirm that if this painful chapter of history has demonstrated anything, it is that imperialism may possess more sophisticated weapons; it may have immense material wealth; it may buy the minds of the wavering; but there is one thing it will never be able to buy: the dignity of the Cuban people,” he said.
Thousands of Cubans lined a street where motorcycles and military vehicles thundered by with the remains of those killed.
“They are people willing to defend their principles and values, and we must pay tribute to them,” said Carmen Gómez, a 58-year-old industrial designer, adding that she hopes no one invades given the ongoing threats.
When asked why she showed up despite the difficulties Cubans face, Gómez replied, “It’s because of the sense of patriotism that Cubans have, and that will always unite us.”
Cuba recently released the names and ranks of 32 military personnel — ranging in age from 26 to 60 — who were part of the security detail of Venezuelan President Nicolás Maduro during the raid on his residence on January 3. They included members of the Revolutionary Armed Forces and the Ministry of the Interior, the island’s two security agencies.
Cuban and Venezuelan authorities have said that the uniformed personnel were part of protection agreements between the two countries.
A demonstration was planned for Friday across from the U.S. Embassy in an open-air forum known as the Anti-Imperialist Tribune. Officials have said they expect the demonstration to be massive.
“People are upset and hurt. There’s a lot of talk on social media; but many do believe that the dead are martyrs” of a historic struggle against the United States, analyst and former diplomat Carlos Alzugaray told The Associated Press.
In October 1976, then-President Fidel Castro led a massive demonstration to bid farewell to the 73 people killed in the bombing of a Cubana de Aviación civilian flight financed by anti-revolutionary leaders in the U.S. Most of the victims were Cuban athletes.
In December 1989, officials organized “Operation Tribute” to honor the more than 2,000 Cuban combatants who died in Angola during Cuba’s participation in the war that defeated the South African army and ended the apartheid system. In October 1997, memorial services were held following the arrival of the remains of guerrilla commander Ernesto “Che” Guevara and six of his comrades, who died in 1967.
The latest mass burial is critical to honor those slain, said José Luis Piñeiro, a 60-year-old doctor who lived four years in Venezuela.
“I don’t think Trump is crazy enough to come and enter a country like this, ours, and if he does, he’s going to have to take an aspirin or some painkiller to avoid the headache he’s going to get,” Piñeiro said. “These were 32 heroes who fought him. Can you imagine an entire nation? He’s going to lose.”
A day before the remains of those killed arrived in Cuba, U.S. Secretary of State Marco Rubio announced $3 million in aid to help the island recover from the catastrophic Hurricane Melissa, which struck in late October.
The first flight took off from Florida on Wednesday, and a second flight was scheduled for Friday. A commercial vessel also will deliver food and other supplies.
“We have taken extraordinary measures to ensure that this assistance reaches the Cuban people directly, without interference or diversion by the illegitimate regime,” Rubio said, adding that the U.S. government was working with Cuba's Catholic Church.
The announcement riled Cuban Foreign Minister Bruno Rodríguez.
“The U.S. government is exploiting what appears to be a humanitarian gesture for opportunistic and politically manipulative purposes,” he said in a statement. “As a matter of principle, Cuba does not oppose assistance from governments or organizations, provided it benefits the people and the needs of those affected are not used for political gain under the guise of humanitarian aid.”
Coto contributed from San Juan, Puerto Rico.
Follow AP’s coverage of Latin America and the Caribbean at https://apnews.com/hub/latin-america
Military members pay their last respects to Cuban officers who were killed during the U.S. operation in Venezuela that captured Venezuelan President Nicolas Maduro, at the Ministry of the Revolutionary Armed Forces where the urns containing the remains are displayed during a ceremony in Havana, Cuba, Thursday, Jan. 15, 2026. (AP Photo/Ramon Espinosa)
A motorcade transports urns containing the remains of Cuban officers, who were killed during the U.S. operation in Venezuela that captured Venezuelan President Nicolas Maduro, through Havana, Cuba, Thursday, Jan. 15, 2026. (AP Photo/Ramon Espinosa)
Soldiers carry urns containing the remains of Cuban officers, who were killed during the U.S. operation in Venezuela that captured Venezuelan President Nicolas Maduro, at the Ministry of the Revolutionary Armed Forces in Havana, Cuba, Thursday, Jan. 15, 2026. (Adalberto Roque /Pool Photo via AP)
A motorcade transports urns containing the remains of Cuban officers, who were killed during the U.S. operation in Venezuela that captured Venezuelan President Nicolas Maduro, through Havana, Cuba, Thursday, Jan. 15, 2026. (AP Photo/Ramon Espinosa)
A motorcade transports urns containing the remains of Cuban officers, who were killed during the U.S. operation in Venezuela that captured Venezuelan President Nicolas Maduro, through Havana, Cuba, Thursday, Jan. 15, 2026. (AP Photo/Ramon Espinosa)
People line the streets of Havana, Cuba, Thursday, Jan. 15, 2026, to watch the motorcade carrying urns containing the remains of Cuban officers killed during the U.S. operation in Venezuela that captured Venezuelan President Nicolas Maduro. (AP Photo/Ramon Espinosa)
Workers fly the Cuban flag at half-staff at the Anti-Imperialist Tribune near the U.S. Embassy in Havana, Cuba, Monday, Jan. 5, 2026, in memory of Cubans who died two days before in Caracas, Venezuela during the capture of Venezuelan President Nicolas Maduro by U.S. forces. (AP Photo/Ramon Espinosa)
