Montana Capital Partners is being purchased by PGIM.
PGIM, an investment manager of Prudential, has made a strategic move in the private equity industry by acquiring Montana Capital Partners (MCP), a European-based service provider in the private equity secondary market. The acquisition, expected to close in the third quarter of 2021, significantly strengthens PGIM's alternatives offerings and asset management capabilities.
Founded in 2011 by Christian Diller and Marco Wulff, MCP operates in the private equity secondary market and focuses its investment strategy on small and mid-cap secondary transactions. With approximately €2.7 billion in assets under management, MCP brings a unique expertise and a proactive approach to sourcing customized private equity secondary transactions.
The acquisition of MCP by PGIM will see it integrated into PGIM's multi-manager structure while maintaining investment autonomy. This integration will be led by Eric Adler, President and CEO of PGIM Real Estate. Christian Diller and Marco Wulff will continue to lead MCP post-acquisition.
The acquisition is a significant step for PGIM as it aims to strengthen its alternatives capabilities. PGIM's strategies currently manage approximately $215 billion in assets, and the addition of MCP's expertise will enhance PGIM's existing alternatives offerings that manage $253 billion in assets across various strategies such as fixed income, real estate, and private capital.
The acquisition of MCP will also benefit from PGIM's global distribution, sourcing, operational, compliance, and regulatory infrastructure, supporting MCP’s growth and investment activities worldwide, including expansions in the U.S. market.
In addition to this, key personnel at MCP have been promoted to further develop its investment strategy, including the appointment of a Chief Investment Officer and managing partners with deep experience in private equity and direct investing. This move solidifies MCP's growth trajectory within PGIM.
The acquisition allows PGIM to leverage MCP’s proactive sourcing of customized mid-market private equity secondary transactions, adding unique portfolio construction capabilities to PGIM’s alternatives suite and complementing its public and private market strategies.
David Hunt, President and CEO of PGIM, stated that MCP's expertise and strategic alignment with PGIM will help build out PGIM's alternatives capabilities. MCP's investors include sovereign wealth and pension funds, insurance companies, banks, family offices, and high net worth individuals.
The acquisition of MCP by PGIM has enhanced PGIM’s ability to offer a broader range of specialized alternative investment strategies with global scale and deep asset-class expertise, reinforcing its asset management leadership in alternatives. Since MCP retains management independence while benefiting from PGIM’s scale and resources, this creates a synergistic platform that supports innovation and client service in alternatives investing.
[1] PGIM Press Release, "PGIM to acquire Montana Capital Partners (MCP), a leading European private equity secondary manager", 2021. [2] Montana Capital Partners Press Release, "Montana Capital Partners announces leadership promotions following acquisition by PGIM", 2023.
Other than enhancing PGIM's asset management capabilities in alternatives, the acquisition of Montana Capital Partners (MCP) also brings a unique expertise in private equity secondary transactions to PGIM's finance portfolio. With the integration of MCP, PGIM's strategies will now manage a broader range of specialized alternative investment strategies, benefiting from MCP's proactive sourcing of customized mid-market private equity secondary transactions.
