PGIM Launches Its First Private-Credit CIT for DC Plans
PGIM launched its first private-credit collective investment trust for defined contribution plans, the firm announced Thursday.
The PGIM Investment Grade Private Credit Fund, which sits in the Prudential Trust Company Alternative Investments Collective Trust, is designed to provide DC plans with exposure to private credit, including private placement and asset-based finance securities, a company announcement said.
“DC plan sponsors are increasingly looking for ways to diversify beyond traditional fixed income, but the structures available to them haven’t always kept pace with the opportunity set,” John Vibert, head of credit at PGIM, said in a statement.
Read more on what STP’s subject matter expert, David Goldstein had to say here.
