Prudential Private Capital invests $60M in Rougaroux Power Holdings
August 05 2021 - 11:00AM
Business Wire
Prudential Private Capital provided $60 million of senior
secured notes to Rougaroux Power Holdings, LLC, an indirect owner
of a 192-megawatt operating hydroelectric project located in
Louisiana. Prudential Private Capital is a leading source of
private debt for public and private companies and is the private
capital arm of PGIM, the $1.5 trillion global investment management
business of Prudential Financial, Inc. (NYSE: PRU).
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"Our partnership with Rougaroux
reinforces our long-term commitment to investments in real assets.
In the first half of 2021, we have invested nearly $900 million
across energy and power alone.” -Wendy Carlson, Managing Director
at Prudential Private Capital (Photo: Business Wire)
“We are proud to continue supporting a high-performing hydro
facility, which is among the newest and largest hydroelectric
facilities built in the U.S. in the last 30 years,” said Ingrida
Soldatova, senior vice president of Prudential Private Capital’s
Power group.
“Our partnership with Rougaroux reinforces our long-term
commitment to investments in real assets. In the first half of
2021, we have invested nearly $900 million across energy and power
alone, demonstrating our ability to support our partners even in
uncertain markets,” added Wendy Carlson, managing director and head
of Prudential Private Capital’s Power group. “Our involvement with
this asset dates back to 1990, reinforcing our relationship-based,
long-term financing strategy.”
Relationship Highlights:
- Catalyst Old River Hydroelectric LP – Investment in the
original 30-year leveraged lease financing in 1990.
- Gator Power Holdings I– $40 million of senior secured
notes to fund a portion of ArcLight’s acquisition in 2011.
- Gator Power Holdings II – $70 million of senior secured
notes to support a refinancing in 2015.
“Our Real Assets platform continues to expand and achieve strong
origination activity across energy, power, infrastructure, and
credit tenant lease sectors,” said Soldatova. “With nearly $30
billion AUM across nine global deal teams, we play an active role
in the market.”
For nearly 100 years, Prudential Private Capital has been
partnering with a wide range of corporations, sponsors, and
institutions to provide valuable insights, guidance, and customized
capital solutions that enable them to achieve their growth and
funding goals. In an industry where capital can seem like a
commodity and relationships are often fleeting and transactional,
we are known for building enduring local partnerships based on a
steady and patient commitment to our partners’ long-term capital
needs. With regional teams in 15 offices around the world, we
manage a portfolio of nearly $98 billion for our partners. All data
as of March 31, 2021. For more information, please visit
prudentialprivatecapital.com.
Learn about Prudential Private Capital:
prudentialprivatecapital.com Connect with us on LinkedIn
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version on businesswire.com: https://www.businesswire.com/news/home/20210805005056/en/
Media contact: Lizzie Lowe 973.802.8786 lizzie.lowe@pgim.com
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