Prudential was one of the first insurance companies to establish an investment team focused on power and renewable energy credit, and the firm continues to evolve and innovate to maintain its position as the leader in the field.
The Institutional Investor of the Year (Debt) Award recognizes Prudential's proactive, pioneering spirit and its willingness to step in and assess more challenging deals. The financial heft of Prudential, meanwhile, that allows the firm to self-arrange sizeable transactions.
Prudential Private Capital’s forward-thinking attitude is exemplified in project finance loans to under-banked gas-fired peakers in Texas and the recently launched mid-market mezzanine investment division, Prudential Capital Energy Partners, which closed its $343 million maiden fund in February 2019.
Prudential also played a key role in one of the marquee combined-cycle gas-fired deals of the year, arranging the fixed-rate debt for J-Power USA’s 1.2 GW Jackson Generation project, and was active at the cutting edge of the renewable energy industry with a loan to distributed solar developer Soltage.
Borrowers appreciate the firm’s accommodating approach. “They have been very competitive in providing a bond product that has close to the same amount of flexibility as a bank loan,” says one, while another admiringly describes the team as “straight shooters.”
Prudential’s leadership in energy finance is underpinned by its deep bench of seasoned experts, overseen by Wendy Carlson. Although a decades-long stalwart of the group, Ric Abel, retired in 2019, the company replenished its firepower with the addition of Debra Hemsey as a managing director from GE Energy Financial Services. In the ranks, interviewees picked out Ty Bowman and Ingrida Soldatova as rising stars.
See all of the 2019/2020 awards