Montana Capital Partners (MCP) has closed its sixth private equity secondaries fund at $1.4 billion, equaling the size of its predecessor and marking its first flagship raise since becoming part of PGIM, the $1.5 trillion investment management arm of Prudential Financial. 

The fund, MCP Opportunity Secondary Program VI (MCP VI), drew commitments from sovereign wealth funds, pensions, insurers, family offices and foundations across Europe, Asia, the Middle East and the U.S. After a first close in 2024, the vehicle attracted both re-ups and new institutional investors. 

MCP focuses on middle-market private equity secondaries in North America and Western Europe, combining diversified LP-led transactions with select GP-led deals. The firm has already deployed more than half of MCP VI and syndicated additional exposure to co-investors, signaling strong deal flow and capital velocity. 

Recent transactions include a private portfolio acquisition from a Chinese insurance company and a 2025 deal with Prudential Financial to acquire middle-market buyout assets. 

MCP manages more than $5 billion across its platform and has deployed over $5 billion in secondary investments since inception, supported by a 45-person team spanning Switzerland and New York. 

The raise comes as PGIM broadens its alternatives footprint. In January, the firm announced plans to deploy up to $1 billion into private credit secondaries over the next two years, leveraging MCP’s investment professionals to lead the initiative.