Prudential Capital Group appointed Peter Pricco to head its new Minneapolis office, which is expected to open during the 2012 third quarter, the company announced. Prudential Capital Group, a source of private capital for middle-market, public and private companies, is an investment business of Prudential Financial, Inc. (NYSE:PRU).
Pricco, who joined Prudential Capital Group in 2012, leads a team responsible for originating and managing senior debt and mezzanine investments in Iowa, Minnesota, Nebraska, North Dakota and South Dakota. He previously spent 11 years in commercial banking in the Minneapolis area. Pricco, who earned a bachelor’s degree from the University of St. Thomas and an MBA from the University of Minnesota’s Carlson School of Management, will report directly to Scott von Fischer, a managing director and newly-appointed co-head of U.S. corporate finance.
“Peter’s extensive experience and proven track record in corporate finance, particularly in the Minneapolis area, make him ideally suited to lead our new Minneapolis office. He is an excellent addition to our Prudential Capital team,” von Fischer said.
Pricco will oversee the new office, which will provide private capital to both public and private middle-market companies in Minnesota, North Dakota, South Dakota, Iowa and Nebraska, in the form of senior debt, mezzanine and private equity financing. The company announced on January 31, its plans to open the office as part of its strategy to position its U.S. regional corporate finance platform for expansion.
Prudential Capital Group has been a leading provider of private debt, mezzanine and equity securities to companies worldwide for more than 70 years. Managing a portfolio of $59.2 billion as of December 31, 2011, Prudential Capital offers senior debt and mezzanine capital, leverage leases, credit tenant leases, and equipment finance to companies, worldwide. The global regional office network has locations in Atlanta, Chicago, Dallas, Frankfurt, London, Los Angeles, Minneapolis, Newark, N.J., New York, Paris and San Francisco. For more information, please visit www.prudentialcapitalgroup.com.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $901 billion of assets under management as of December 31, 2011, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/.