Prudential Financial (NYSE:PRU) has decided to expand their energy offerings by creating the Dallas-based Energy Finance Group.
Prudential Financial Ready For Energy Investment
Prudential Capital Group, a wholly owned subsidiary of Newark, New Jersey based Prudential Financial (NYSE:PRU), has reportedly decided to provide expanded financing potential to the energy divisions of oil and gas, utility and power.
Randall Kob, managing director of Prudential Financial (NYSE:PRU)’s Prudential Capital, said, “Prudential Capital has been active in power and oil and gas finance since the 1960s, and this dedicated expansion responds to the needs of the marketplace for deep cross-sector experience and capital that covers the entire risk spectrum within one investment group. The landscape of investment opportunities across the broader energy sectors has changed considerably over the past several years. There is an increase in risk investment opportunities in the power, and oil and gas sectors, as well as indications that the broader energy industry would benefit from greater diversity of capital providers.”
Prudential Financial (NYSE:PRU) stocks are currently standing at 60.17.