07:47 AM EDT, 08/21/2025 (MT Newswires) -- Prudential Financial ( PRU ) said Thursday it held the final close of PGIM Energy Partners II with $619 million in available capital from legacy and new investors, including insurance companies, pension funds, and family offices.

PEP II will finance North American middle market upstream oil and gas and midstream companies using senior debt, junior debt, and equity for development, acquisitions, and refinancings, the company said.

The vehicle is the second private credit fund in PGIM's middle market energy series available to unaffiliated investors, PGIM said.

Demand for production should support the ongoing need for reliable capital among non-sponsored middle market firms, the head of PGIM Energy Partners said.