Principal® Expands Direct Lending Business in 2021 With Eight-Fold Increase in Committed Capital
Principal Financial Group Inc (PFG)
Last principal financial group inc earnings: 4/27 04:15 pm
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US:NYSE Investor Relations:
investors.principal.com/investor-relations/default.aspx
Company Research
Source: Business Wire
DES MOINES, Iowa--(BUSINESS WIRE)--Principal Global Investors®, through its direct lending business, Principal Alternative Credit, closed out 2021 with a more than eight-fold increase in committed capital, advancing its plans to expand its private debt capabilities. Marking the completion of its first full year in the direct lending market, Principal Alternative Credit closed on nearly 40 transactions, including five transactions as the lead agent, representing over $750 million of committed capital.Principal Alternative Credit invests in privately negotiated debt transactions with both sponsor-backed and non-sponsored middle market companies throughout North America that typically have $5 million or more in EBITDA. The direct lending team targets transactions of $25 million to $200 million, with a typical hold size of $10 million to $50 million.Transactions in 2021 included opportunities across the full range of products Principal Alternative Credit offers, including senior, unit
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News
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- Principal Financial Group, Inc. (NYSE: PFG) had its price target raised by analysts at Morgan Stanley from $81.00 to $82.00. They now have an "equal weight" rating on the stock.MarketBeat
- Reasons Why Investors Should Retain Principal Financial (PFG) [Yahoo! Finance]Yahoo! Finance
PFG
Earnings
- 2/12/24 - Beat
PFG
Sec Filings
- 4/17/24 - Form 8-K
- 4/8/24 - Form DEFA14A
- 4/8/24 - Form DEF
- PFG's page on the SEC website