M&G Investments is an international asset manager and one of the largest infrastructure debt managers in Europe. They have over £45 billion in infrastructure debt assets under management, including over £10 billion invested in telecom and cable debt. M&G's infrastructure debt team leverages their expertise in the telecom, media and technology (TMT) sector, as well as their experience financing infrastructure projects, to target debt investments in fiber optic network rollouts from senior to mezzanine levels. Their investment focus is on businesses across a range of sizes that offer long-term stability through strong customer relationships.

1. Digital Infrastructure Debt
David Kemp
November 2017

2. 2
Introduction to M&G Investments
• International asset manager, part of Prudential Plc
• Largest private debt manager in Europe*
• Infrastructure debt team established for nearly 20 years
• Over £45bn** of infrastructure debt assets under management across
both public and private markets
• Over £10bn*** of public and private telecom and cable debt
*Based on figures quoted in Private Debt Investor magazine as at 1 September 2016 based on inflows over the past five years **As at 31 December 2016 ***As at 30 June 2017

3. 3 Source: M&G, June 2017
• Major participant in UK
small and mid-market
direct lending
• Understanding of
industry, technology and
regulatory developments
• Credit analysis of TMT
companies both listed
and unlisted
TMT sector knowledge
Public credit analysts
• One of the leading
financiers of new capex
projects and operating
businesses across UK
infrastructure
Infrastructure experience
Infrastructure debt team
Private corporate debt
Direct lending team
Combined expertise targeting debt investments in fibre rollout
from senior to mezzanine
M&G Digital Infrastructure Debt
Combined sector expertise and detailed, bottom up credit analysis
11 Investment professionals10 Investment professionals33 Investment professionals

4. 4
Investment focus
Source: M&G, June 2017
Size of
business
Large
Small
Long term
surety of
customer
Debt Frontier
Equity Frontier
Low High

5. 5
For Investment Professionals only
The presentation of this document does not constitute an offer or solicitation. Past performance is not a guide to future performance. The value of investments can fall as well as rise.
There is no guarantee that any investment strategy will work under all market conditions or are suitable for all investors and you should ensure you understand the risk profile of the
products or services you plan to purchase.
This presentation is issued by M&G Investment Management Limited. The services and products provided by M&G Investment Management Limited are available only to investors who
come within the category of the Professional Client as defined in the Financial Conduct Authority’s Handbook. They are not available to individual investors, who should not rely on this
communication. Information given in this presentation has been obtained from, or based upon, sources believed by us to be reliable and accurate although M&G does not accept
liability for the accuracy of the contents. M&G does not offer investment advice or make recommendations regarding investments. Opinions are subject to change without notice. Any
reference in this document to individual companies is included solely for the purpose of illustration and should not be construed as a recommendation to buy or sell the same.
M&G Investments is a business name of M&G Investment Management Limited and is used by other companies within the Prudential Group. M&G Investment Management Limited is
registered in England and Wales under number 936683 with its registered office at Laurence Pountney Hill, London EC4R 0HH. M&G Investment Management Limited is authorised
and regulated by the Financial Conduct Authority.
David Kemp
020 3480 5819
david.kemp@mandg.co.uk
Contact
James Newbery
020 7004 4469
james.newbery@mandg.co.uk
John Mayhew
020 7548 2641
john.mayhew@mandg.co.uk