PGIM has expanded its private equity and credit secondaries platform, Montana Capital Partners (MCP), into the Middle East with the appointment of Lucas Radal.

Radal, who joins the firm from Mubadala Capital, has been appointed head of Middle East secondary investments at MCP. He will be based in PGIM’s Abu Dhabi office, which opened in 2024.

In his role, Radal will be responsible for sourcing and executing secondary investment opportunities globally, as well as supporting PGIM’s capital formation efforts. He will also deepen the firm’s coverage of Middle Eastern investors as they look towards private markets secondaries.

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“Lucas is an experienced private markets specialist, and he joins MCP at a pivotal time in the continued evolution of PGIM’s secondaries platform, complementing our presence in Switzerland and New York,” said Dr Stephan Wessel, chief executive of MCP.

MCP currently manages $5.2bn (£3.8bn) in assets and is the secondaries investment group of PGIM, the global asset management business of Prudential Financial, which has $1.5tn in assets under management.

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PGIM’s secondaries platform was established in 2021 through the acquisition of MCP, which was already an established private equity secondaries investment manager at the time.

In 2026, PGIM expanded its secondaries platform into private credit, with plans to deploy $1bn into the asset class over the next two years.

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