PGIM Launches Global Private Credit Fund for Wealth Investors

PGIM has launched the PGIM Global Private Credit Fund SCA (UCI), a Luxembourg-domiciled Part II UCI fund designed to provide wealth investors in Europe, the U.K. and Asia with access to the firm’s global private credit platform.

The fund seeks to invest primarily in senior secured loans to middle-market companies across North America, Europe and Australia. Matthew Harvey, PGIM’s global head of middle-market direct lending, serves as lead portfolio manager.

The strategy focuses on companies generating between $10 million and $75 million in EBITDA, a segment PGIM believes offers attractive risk-adjusted returns through wider spreads and stronger covenant protections than other areas of the direct lending market.

The fund is sector agnostic but emphasizes stable, less cyclical industries while generally avoiding highly leveraged, volatile or heavily regulated sectors.

A key differentiator is the fund’s allocation to non-sponsored loans made to privately held companies, providing exposure beyond the traditional private equity-backed lending universe.

“Our new Part II UCI leverages a differentiated strategy built on broad loan and sector diversification, a targeted middle market focus, global reach and deep, local origination access,” Harvey said.

The fund has initially been passported for marketing across multiple European markets, including Germany, France, Italy, Switzerland and the Netherlands. It is also available through private placement channels to qualified investors in jurisdictions including the United Kingdom, Hong Kong and Singapore.

PGIM said the launch reflects growing demand among wealth investors for private credit strategies that can complement traditional fixed-income allocations.

“This UCI offers an alternative and diversified return stream to help manage the risk and return profiles of portfolios,” said Matt Shafer, head of international wealth at PGIM.