Prudential falls short of earnings forecasts, execs stress long-term focus
May 8, 2023 by John Hilton
Prudential Financial continues to make moves to shake off the earnings malaise and reverse a stock decline. As in recent quarters, the first-quarter results are mixed at best.
Led by Chairman and CEO Charlie Lowrey, company executives met with stock analysts Wednesday and touted some significant moves Prudential closed in recent months, including:
1. Acquiring a majority stake in Deerpath Capital Management. It was announced Tuesday that PGIM, Prudential’s $1.2 trillion global investment management business, signed a deal to acquire Deerpath Capital Management and its associated affiliates. Deerpath Capital is a private credit and direct lending manager focused primarily on financing private equity sponsor-backed companies in the lower middle market and has more than $5 billion in assets under management.
Click HERE to read the full story via INN