The global investment business will be called PGIM Private Capital.

Prudential Capital Group has renamed its global investment business, which has more than $86 billion of assets under management, as PGIM Private Capital.

The business is the private capital arm of PGIM, the global investment management business of US-listed Prudential Financial.

“Adopting PGIM Private Capital reinforces our connection to the global PGIM brand and underscores the types of investment products we offer institutions seeking exposure and attractive returns through private debt and mezzanine investments,” Allen Weaver, managing director and head of PGIM Private Capital, said.

PGIM Private Capital manages nearly $18 billion in non-affiliated assets through its institutional asset management and alternatives units, comprising direct lending, PGIM Capital Partners and PGIM Energy Partners. Since 2000, the firm has raised a total of $5.6 billion in six mezzanine funds, including its first energy mezzanine fund, and has invested $4.7 billion in 162 companies.

PGIM Private Capital’s global origination network will adopt Prudential Private Capital – Pricoa Private Capital outside the Americas – as its new name.