Prudential Capital Group, the lending arm of insurer Prudential Financial, has hired Wendy Carlson as a managing director in its Dallas-based energy finance group where she will oversee power investments. Carlson takes over from Ric Abel, who is moving on to a new role focusing on increasing risk investments in the energy sector.
“It’s an exciting time in the energy business, both in power and oil and gas,” commented Abel.
“Abel was instrumental in building the power unit over the last 15 years and will continue to contribute to the growth of the group by turning his attention to higher risk financing,” said a statement from Prudential on 10 February. The unit manages a $6.5 billion portfolio of investment grade, below investment grade, mezzanine and private equity energy holdings.
Carlson comes to Prudential from Chicago-based energy investment bank Marathon Capital. Her appointment is effective immediately and she will report to Randall Kob, managing director and head of the energy finance group.
“Wendy’s impressive finance experience and expertise in the power and utility sectors, and especially renewable energy, will add significant value to our team as we continue to pursue innovative financing structures,” Kolb said in a statement.
Prudential Capital has been a provider of private debt, mezzanine and equity securities to companies for 70 years. Managing a portfolio of $71.6 billion, the firm offers senior debt and mezzanine capital, leveraged leases and equipment finance.
The group has locations in Atlanta, Chicago, Dallas, Frankfurt, London, Los Angeles, Milan, Minneapolis, Newark, New Jersey, New York, Paris and San Francisco.