PGIM Closes $619 Million Fund to Invest in Oil And Gas Companies

PGIM Inc. has closed its $619 million PGIM Energy Partners II fund, which provides financing to middle market upstream oil and gas and midstream companies in North America.

The fund is the second private credit commingled vehicle in the asset manager’s middle market energy series, raising the money from a combination of insurance companies, pension funds and family offices, according to a statement seen by Bloomberg.

This year, President Donald Trump has put forward a sweeping overhaul of US energy policy, putting the weight of the US federal government behind fossil-fuel production and pulling back from the fight against climate ...