PRICOA Capital, the mezzanine investment arm of the Prudential Corporation of America, has closed its Paris office and transferred that office’s only investment professional, director Gregory Barbes, to London. Also Mark Brunault, one of three executive directors in London, left the firm at the end of last year as the result of a personal decision, says Bruno Wanske, executive director and managing partner at the operation who is based in Frankfurt. Brunault’s responsibilities have been shared between the directors in the London office.
Wanske says he expects good invest-ment opportunities to arise particularly from France and Germany, as well as the UK. PRICOA Capital, like many investors in the mezzanine/equity area, made a conscious decision to stay largely out of the market last year but is looking forward to getting back this year. Investment spend will depend on opportunities and market conditions but will at least exceed the EURO100 million mark.