Prudential Capital function
Can someone explain what Prudential Capital does in terms of finance if not related to the Investment Bank side nor the Wealth Management side? Trying to understand my sister’s job role.
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The easiest way to think of them is that they started as the lending division of the insurance company - a way to earn a higher yield than securities. They lend on commercial income properties, and also to companies in various forms of terms loans and mez debt. They then raised various funds from investors over the years (such as other smaller insurance companies) to do the same sort of thing alongside of them or perhaps in scenarios that they wouldn’t want to participate in, and earn fee income on those funds. I don’t believe they have an investment banking group anymore and their brokerage division Bache was sold to Wachovia pre financial crisis and is now Wells Fargo advisors.
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