Pricoa Capital Clinches Second Pan-Europe Fund –

Pricoa Capital Group, a private equity subsidiary of Prudential Insurance Company of America, closed its second pan-European fund, Pricoa Private Capital Partners II (PPCP II) at approximately $459 million (EURO540 million).

The fund provides financing in multiple forms for management-led buyouts including mezzanine debt and private equity. Pricoa Capital also underwrites senior debt and provides growth capital to Western European companies with enterprise values of approximately $26 million to $255 million (EURO30 million to EURO300 million).

PPCP II received commitments from many return investors from PPCP I, which include pension funds, banks, and insurance companies based in Europe, Asia , Australia and North America.

“The demand for mezzanine debt and private equity from European mid-market companies has never been higher,” said Bruno Wanske, managing partner of the fund, in a statement, “driven by the transfer of ownership amongst private companies, corporate restructurings and the privatization programs of many continental European governments.”

Pricoa Capital, which has offices in London, Frankfurt and Paris, has invested approximately $637 million in mezzanine debt and private equity since its founding in 1985.