L.P. Prudential, Michigan Form $125M Fund –

Prudential Global Private Equity, the private investment arm of The Prudential Insurance Company of America, announced this month an investment program with the State of Michigan Bureau of Investments to manage $125 million of private equity fund on behalf of both institutions. Michigan will invest $100 million and Prudential will invest $125 million of its own capital in the fund.

The investment program will seek to make plays on small-to-medium sized domestic, international, venture capital, emerging and sector funds with less than $500 million.

In a statement, Michael Arpey, managing director and head of Prudential Global, said, “We believe the program will provide the diversification benefits or private equity and will capitalize on the collective strength and collaboration of our investment teams. We

are grateful that Michigan chose to work with Prudential on this program and we look forward to jointly achieving our investment goals.”

Prudential Global’s team consists of Arpey, Kelly Williams (former head of product development for Prudential Global), and Beverley Berman, who recently joined Prudential from the Public Employees Retirement Association of Colorado. In addition, Mark Regal recently joined the team from Bank of America, where he was responsible for its venture capital fund portfolio.

Prudential Global Private Equity is an international investment firm with offices in the U.S., Asia and Europe.