PGIM has appointed Lucas Radal as Head of Middle East Secondary Investments for Montana Capital Partners (MCP), expanding its secondaries investment platform in the region.
Radal will operate from PGIM’s Abu Dhabi office. In the newly created role, he will focus on sourcing and executing secondary investment opportunities globally. He will also support the firm’s capital formation efforts.
The appointment marks another step in PGIM’s efforts to strengthen its presence in the Middle East. MCP is the secondaries investment group of PGIM, the global asset management business of Prudential Financial.
Lucas Radal to deepen Middle East investor coverage
In addition to his global responsibilities, Radal will expand MCP’s coverage of Middle Eastern investors.
The move comes as more regional institutions turn to secondary markets. Investors are increasingly using these markets to manage private market exposure, rebalance portfolios and access liquidity from existing holdings.
Emira Socorro, Managing Director and Senior Executive Officer for PGIM in Abu Dhabi, said the expansion reflected the firm’s growing commitment to the region.
“The expansion of our secondaries business to the Middle East underscores our deepening commitment to the region and the conviction we have in its future,” Socorro said.
She added that the Middle East had established itself as an important hub in the global financial system and was attracting both capital and international talent.
PGIM strengthens its Middle East presence
PGIM has operated in the Middle East for decades and opened its Abu Dhabi office in 2024.
Since then, the asset manager has continued to build its regional presence. This includes strategic partnerships with the Abu Dhabi Investment Office and Kuwait-based Kamco Invest.
The appointment of Radal further strengthens that local footprint.
MCP CEO Dr Stephan Wessel said Radal joins at an important stage in the development of PGIM’s secondaries platform.
“Lucas is an experienced private markets specialist, and he joins MCP at a pivotal time in the continued evolution of PGIM’s secondaries platform,” Wessel said.
He added that Radal would help strengthen relationships with key market participants while supporting origination and partnership opportunities.
Radal brings private markets and secondaries experience
Before joining MCP, Radal served as a senior investment executive at Mubadala Capital.
Earlier, he spent more than a decade at Ardian, where he worked within the firm’s secondary investment practice.
Radal holds a master’s degree in general management from IAE Nantes. He also holds a master’s degree in international finance from IAE Aix-Marseille, where he lectures in private equity.
PGIM expands its secondaries capabilities
PGIM acquired Montana Capital Partners in 2021, bringing an established private equity secondaries investment manager into its global investment platform.
Earlier this year, PGIM also expanded the platform into private credit secondaries. The firm said it intends to deploy US$1 billion in private credit secondaries over the next two years.
The latest Middle East expansion adds another dimension to PGIM’s secondaries strategy. It also positions MCP closer to a growing pool of regional institutional investors.
With Radal leading the new function from Abu Dhabi, PGIM is strengthening both its investment capabilities and its access to Middle Eastern capital markets.
