Prudential Financial Inc. announced that Prismic Life Holding Company, LP, which it sponsors alongside Warburg Pincus, has completed a private capital raise of US$1.3 billion. Prismic is a Bermuda-exempted limited partnership and the holding company for Prismic Life Reinsurance, Ltd. and Prismic Life Reinsurance International, Ltd., both licensed Class E Bermuda-based life and annuity reinsurance companies. The capital will be used to support the growth of Prismic's reinsurance platform and to provide additional capacity for reinsurance solutions. This latest funding round follows previous capital raises totaling over US$1.5 billion to support the reinsurance of approximately US$17 billion of Prudential Financial's U.S. and Japanese liabilities. The raise included participation from a global group of investors.