Prudential Capital fund beats $500M target.(Brief Article)

Byline: Kelly Holman

Prudential Capital Group has closed its mezzanine fund, Prudential Capital Partners LP, with $619 million in commitments, exceeding its target of $500 million. Prudential Capital is the Chicago mezzanine fund and investment management arm of The Prudential Insurance Co. of America.

Investors in the fund included CIBC World Markets (with a $20 million commitment), the City of Boston Retirement Fund and domestic and foreign asset managers, as well as high-net-worth individuals, pension funds and the parent company, Prudential Insurance. The closing was announced late Monday.

The new fund will make mezzanine debt investments of $5 …