In February 2007, GMAC Commercial Finance LLC, a subsidiary of GMAC Financial Services, completed the sale of its $607_million equipment finance portfolio to Prudential Financial, Inc. (NYSE: PRU) of Newark, New Jersey. As part of the transaction, Prudential will hire most employees from GMAC Commercial Finance’s Equipment Finance Division. The acquisition represents Prudential’s entrance into a new asset class. Terms of the transaction were not disclosed.
GMAC Commercial Finance provides leveraged products to middle-market businesses in N. American and Europe. Prudential Capital Group is a premier financial services company that manages a portfolio of more than $43 billion.
Colonnade Advisors LLC served as exclusive financial advisor to GMAC Commercial Finance.