Forgive my ignorance, but where on the investment spectrum would you classify a company that does “private debt”? As in, “Prudential Capital Group manages a portfolio of more than $40 billion* in private fixed-income securities. Year after year, we invest private capital—$3 billion to $6 billion per year—in companies worldwide.” So they’re running a fund, and main type of investment is private debt. Is this i-banking? Seems closer to investment mgmt, almost like some hedge fund activities, but obviously not in a hedge fund structure. Also, how prestigious is “private debt”, anyway? Similar to private equity? http://www.prudentialcapitalgroup.com/pcg/main/company_overview.html
Didn’t open the link, but I’m assuming they are referring to private placements.
I had interviewed with PCG (now Pricoa?) out of college. Private debt is nothing like banking. They just get a bunch of money from Pru that they need to place around NA and the world. Private placement, straight up loans, etc., very conservative, non equity investing (also like CapitalSource).