Prudential Capital Group has hired a new managing director for its growing mezzanine energy business, Prudential Capital Energy Partners (PCEP).
The investment firm announced on Wednesday that Debra Hemsey had joined the PCEP team as a managing director and principal in February. Hemsey will focus on originating mezzanine debt and equity investments in the electric power industry across North America. She will also work on portfolio management and serve on the fund’s investment committee, according to PCEP managing principal Randall Kob.
Hemsey has worked in the energy investment field for more than 25 years, according to her LinkedIn profile. She was formerly a managing director at GE Capital, where she worked with GE Energy Financial Services for more than 14 years. Prior to that, she was a director of the global energy group for the investment banking division at Credit Suisse for four years.
Hemsey’s appointment lands after PCEP closed on more than $343 million in capital commitments for its energy mezzanine fund, Prudential Capital Energy Partners Fund I. The vehicle’s strategy is lending mezzanine debt to mid-market, North American upstream oil, gas, and renewable energy companies.
The fund will put additional emphasis on supplying capital to project development platforms, individual power projects and asset portfolios. The vehicle is already approximately 30 percent deployed and has an average loan size of $20 million, according to Kob.
Prudential Capital Energy Partners is located in Dallas, Texas, and is part of Prudential Capital Group. PCG has more than $83 billion in assets under management and is the private placement investment arm of PGIM, which is the investment management branch of Prudential Financial. PGIM has more than $1 trillion in assets under management.