The global financial services provider that originated in Bermuda is supporting the investment ambitions of a Spanish professional football club.

Apex Group Ltd has been appointed in support of Pricoa Private Capital’s provision of senior capital to La Liga team Real Betis for refinancing.

Pricoa Private Capital is part of PGIM, Inc., the principal asset management business of Prudential Financial, Inc.

The football club based in Seville sought capital to improve its capital structure and refinance existing debt with a single, long-term capital partner.

In January 2023, Pricoa provided the club with a €65 million senior secured term loan and was chosen due to its deep sector expertise, relationship-based approach, and ability to provide long-term capital with a patient amortisation schedule.

Apex Group in Spain acted as the facility and security agent for the transaction.

Apex expanded its presence in the Spanish market in 2022 via the acquisition of Sanne Group and now employs over 75 local experts via offices in Madrid and Valencia.

Manuel Rodríguez, regional head of South & East Europe for Apex Group comments: “We are proud to support Pricoa Private Capital through our loan and security agent services. Our global reach, local knowledge and consultative client-centric approach sets us apart."

Jose Ortiz, vice-president of Pricoa Private Capital further adds: “We are proud to be working in partnership with Real Betis Balompié, providing supportive financing for the club.

“Our long-term approach provides the club with visibility and supports their ambitions both on and off the field.

“We are pleased to be working with Apex Group who share our commitment to building enduring and collaborative long-term, local partnerships.”