PGIM, a global investment management business of Prudential Financial Inc., has signed a definitive agreement to acquire Montana Capital Partners, a European-based private equity secondaries asset manager. MCP focuses on secondaries transactions in the small- and mid-cap markets.
“PGIM’s multi-manager model is based on the belief that highly specialized investment teams with expertise in an asset class allow us to remain focused on delivering investment outperformance on behalf of our clients,” said David Hunt, president and chief executive officer of PGIM. “Montana Capital Partners’ deep expertise in private equity secondaries, coupled with its strategic and cultural alignment with PGIM, make it the right partner to further enhance our alternatives capabilities.”
“We are thrilled to welcome the MCP team to PGIM,” said Eric Adler, president and CEO of PGIM Real Estate. “As specialist investors in the private equity secondary market, with a solid performance track record and a strong network of client relationships, MCP will complement PGIM’s robust real assets capabilities, while providing access to a new and differentiated investment opportunity to the clients we serve.”
Marco Wulff, co-CEO of Montana Capital Partners, comments, “PGIM’s global scale and investment expertise make it an ideal home for Montana Capital Partners to continue to grow. It was important for us to find a partner with whom we can grow and strengthen our core business, while allowing us to offer our clients richer options by combining what we do with PGIM’s capabilities. Furthermore, we also retain our investment autonomy to continue our strategy and track record which provides outperformance for our investors.”
Christian Diller, co-CEO of Montana Capital Partners, added, “Our experience shows that innovative and customized solutions add substantial value for investors. We look forward to leveraging PGIM’s distribution and sourcing capabilities and global expertise to further strengthen our offering to clients. With PGIM’s global network, we will be able to better serve our LPs and source customized deals from GPs and LPs globally.”
Lazard Frères & Co. served as financial advisor to MCP on the transaction.