Prudential plans $12bn in originations

The insurance and financial services company cleared its 2013 origination target by more than $400m. 

Prudential Capital Group plans to originate approximately $12 billion in loans in 2014, according to a statement released on Thursday. The insurance and financial services company exceeded the $11.6 billion target it set for 2013, finishing the year with more than $12 billion of fresh originations.

The insurance company cited low interest rates and growing demand from European borrowers as the primary drivers for its 2013 origination volume.

“Europe in particular was a significant driver as companies searched for alternate sources of capital amid uncertain economic conditions on the continent. In the US, the low-interest rate environment coupled with an improving economic climate contributed to increased production in our regional offices,” said senior managing director and head of Prudential Capital Group Alan Weaver in a statement.

Weaver also attributed last year’s volumes to Prudential’s energy and infrastructure teams. Prudential recently won Private Debt Investor’s inaugural infrastructure debt investor of the year award, having purchased more than $600 million in assets through its infrastructure segment last year.

A Prudential spokesperson could not be reached for comment at press time.

Prudential specialises in providing private debt, mezzanine and equity securities. The company maintains regional offices in Atlanta, Chicago, Dallas, Frankfurt, London, Los Angeles, Minneapolis, Newark, New York, Paris and San Francisco and manages a $66 billion portfolio.