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PGIM

PGIM Private Credit Fund

PGIM Private Credit Fund is a fund based in Newark, United States that raised $220,000 in 2025 (SEC Form D).2

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Last updated Oct 21, 2026.

Overview

$21.8MNet income, fiscal 20253

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  • TickerPGIM2
  • HeadquartersNewark, United States2
  • Incorporated inDE4
  • Business address655 Broad St, Newark, Nj 071024
  • Filer category, Emerging growth company4
  • Legal formOther2
  • Kind of organizationFund2
  • LEI549300QWYI926DWK0W432
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressC/O THE CORPORATION TRUST COMPANY, 19801 Wilmington, United States2
  • Registered withSecurities and Exchange Commission, 00019236222

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

10.7%Return on equity3

Financial statements

Net income3$21.8M in 2025+127% since 2023
0$10.0M$20.0M$30.0M2023: $9.6M$9.6M20232024: $15.1M$15.1M2024+57%2025: $21.8M$21.8M2025+45%
Fiscal year2022202320242025
Interest$140.0K3$3.3M3$7.2M3
Net income$9.6M3$15.1M3$21.8M3

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Corporate structure

PGIM Private Credit Fund sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of PGIM Private Credit Fund

  • PGIM Private Credit Fund Newark, New Jersey, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What PGIM Private Credit Fund reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$16.6M3 Dec 31, 2025$3.7M3 Dec 31, 2024+344.3%

Properties, in its own words

We do not own any real estate or other physical properties materially important to our operation. Our corporate headquarters are located at 655 Broad Street, Newark, New Jersey, 07102 and are provided by the Manager in accordance with the terms of our Management Agreement. We believe that our office facilities are suitable and adequate for our business as it is contemplated to be conducted.

Item 2 of the 10-K filed Mar 18, 2026.11

Leadership

Who has led PGIM Private Credit Fund, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (12)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Assistant SecretaryDebra E. Rubano named Dec 9, 202523
  • Assistant SecretaryDevan E. Goolsby named Dec 9, 202523
  • Assistant SecretaryGeorge E. Hoyt named Dec 9, 202523
  • Chief Legal OfficerGlaudia M. DiGiacomo named Dec 9, 202523
  • Assistant SecretaryKelly A. Coyne named Dec 9, 202523
  • Assistant SecretaryMelissa R. Gonzalez named Dec 9, 202523
  • Assistant SecretaryPatrick E. McGuinness named Dec 9, 202523
  • Assistant TreasuerRobert W. McCormack named Dec 9, 202523
  • Assistant TreasurerRuss M. Shupak named Dec 9, 202523
  • President and Principal Executive OfficerStuart S. Parker named Dec 9, 202523
  • DirectorMorris L. McNair, III named Dec 9, 202523

Former names

  • PGIM Senior Loan Opportunities FundApr 19, 2022 to Apr 19, 20224

Timeline

  1. Sep 28, 20268-K Regulation FD disclosure; Other events24
  2. Sep 24, 20268-K Entered a material agreement; New debt or obligation25
  3. Aug 31, 20268-K Regulation FD disclosure; Other events26
  4. Jul 31, 20268-K Shareholder vote27
  5. Jul 28, 20268-K Regulation FD disclosure; Other events28
  6. Jun 30, 20268-K Regulation FD disclosure; Other events29
  7. May 28, 20268-K Regulation FD disclosure; Other events30
  8. May 8, 20268-K Entered a material agreement; New debt or obligation31
  9. Apr 28, 20268-K Regulation FD disclosure; Other events32
  10. Apr 7, 20268-K Bylaws or fiscal year changed33
  11. Mar 27, 20268-K Regulation FD disclosure; Other events34
  12. Feb 24, 20268-K Regulation FD disclosure; Other events35
  13. Mar 21, 2022Founded PGIM Private Credit Fund is founded2

Filings

187 filings to the SEC since October 2021: 3 annual reports, 11 quarterly reports, 49 major events, 30 insider forms, 6 large holders, 1 private raises, 87 other. The latest 20:

  1. Oct 8, 202640-17G PRUDENTIAL FUND COMPLEX- FIDELITY BOND- ALTS EDGAR
  2. Sep 29, 2026SC TO-I EDGAR
  3. Sep 28, 20268-K EDGAR
  4. Sep 24, 20268-K EDGAR
  5. Aug 31, 20268-K EDGAR
  6. Aug 18, 2026424B3 EDGAR
  7. Aug 13, 202610-Q EDGAR
  8. Jul 31, 2026SC TO-I/A EDGAR
  9. Jul 31, 20268-K EDGAR
  10. Jul 30, 20264 OWNERSHIP DOCUMENT EDGAR
  11. Jul 30, 2026SCHEDULE 13D/A EDGAR
  12. Jul 28, 20268-K EDGAR
  13. Jul 8, 2026DEF 14A EDGAR
  14. Jun 30, 20268-K EDGAR
  15. Jun 29, 2026SC TO-I EDGAR
  16. May 28, 20268-K EDGAR
  17. May 21, 2026424B3 EDGAR
  18. May 15, 202610-Q EDGAR
  19. May 12, 20265 PRIMARY DOCUMENT EDGAR
  20. May 8, 20268-K EDGAR

The 187 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

11 open-market trades by officers, directors and large owners since October 2021: 8 buys and 3 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jul 28, 2026PRUCO LIFE INSURANCE CO10% ownerSale214,746$24.75$5.3MForm 4
Apr 24, 2026Parker StuartSee remarksSale13,297$24.82$330.0KForm 4
Jan 23, 2026PRUDENTIAL INSURANCE CO OF AMERICA10% ownerBuy1,406,739$24.87$35.0MForm 4
Dec 23, 2025Turpin Thomas M.DirectorBuy1,008$24.81$25.0KForm 4
Dec 23, 2025McNair MackDirectorBuy2,539$24.81$63.0KForm 4
Dec 23, 2025Schneider Mary LeeDirectorBuy2,580$24.81$64.0KForm 4
Sep 23, 2025Parker StuartSee remarksBuy20,178$24.78$500.0KForm 4
Jul 29, 2025Parker StuartSee remarksSale11,950$24.78$296.1KForm 4
Mar 26, 2025PRUDENTIAL FINANCIAL INC10% ownerBuy721,732$24.94$18.0MForm 4
Feb 26, 2024Parker StuartSee remarksBuy20,243$24.70$500.0KForm 4
Jul 14, 2023PRUDENTIAL FINANCIAL INC10% ownerBuy763$26.20$20.0KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$220.0K 2025–2025
Money received by yearMoney received by year, 2025–2025: $220.0K in all. Private raises (Form D) $220.0K.$0$100K$200K$300K2025 · Private raises (Form D): $220.0K2025
Figures by year
YearPrivate raises (Form D)Total
2025$220.0K$220.0K

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Dec 1, 2025Raised $220,000 in a private offering of securities23 Form D: 110 investors so far Form D

SEC filer profile

How PGIM Private Credit Fund is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARPGIM Private Credit Fund1
  • CIK0001923622
  • Employer ID (EIN)88-177141411
  • Filer statusNon-accelerated filer an emerging growth company; not a smaller reporting company; not a shell company11
  • Incorporated inDelaware11
  • Fiscal year endsDecember 311
  • Business address655 Broad St, Newark, NJ 071021
  • Phone(973) 802-50321
  • Shares outstanding10,307,895 Class I Common Shares shares; 7,155 Class S Common Shares shares; 651 Class D Common Shares shares as of Mar 17, 202611
  • Public float$0 as of Dec 31, 20253
  • AuditorPricewaterhouseCoopers LLP, New York, New York PCAOB ID 238; no auditor attestation of internal control over financial reporting11
  • On EDGAR sinceApr 19, 20221
  • Filings187 in all: 8-K (49), 424B3 (26), 3 (16), 4 (12), 10-Q (11), SC TO-I (11), SC TO-I/A (10), 40-17G (5)1
    All 33 form types

    CORRESP (5), 40-APP/A (4), N-2/A (4), SCHEDULE 13D/A (4), 10-K (3), DEF 14A (3), POS EX (3), 40-APP (2), 486BPOS (2), N-2 (2), 3/A (1), 5 (1), 8-A12G (1), APP NTC (1), APP ORDR (1), D (1), DEF 14C (1), DRS (1), DRS/A (1), EFFECT (1), N-54A (1), N-6F (1), N-6F/A (1), SC 13D (1), SC 13D/A (1)

  • Latest filingsAnnual report (10-K) Mar 18, 2026
    Quarterly report (10-Q) Aug 13, 2026
    Proxy statement (DEF 14A) Jul 8, 2026
    Latest 8-K (8-K) Sep 28, 2026

Securities registered for trading

ClassSymbolExchange
NonePGIMNONE

From the cover page of the 10-K filed Mar 18, 2026 (Section 12(b) of the Exchange Act).11

Risk factors and legal proceedings

The risks PGIM Private Credit Fund names in Item 1A of its 10-K filed Mar 18, 2026: 74 risks under these headings, as written.11

  • Risks Related to Our Business and Structure
  • We have a limited operating history.
  • The Board may change our operating policies and strategies without prior notice or shareholder approval, the effects of which may be adverse to our results of operations and financial condition.
  • The Board may amend our Declaration of Trust without prior shareholder approval.
  • Price declines in the medium- and large-sized U.S. corporate debt market may adversely affect the fair value of our portfolio, reducing our NAV through increased net unrealized depreciation.
  • Our ability to achieve our investment objective depends on the ability of the Manager and the Private Credit Subadvisers to manage and support our investment process. If the Manager or the Private Credit Subadvisers were to lose any members of their respective senior management teams, our ability to achieve our investment objectives could be significantly harmed.
  • Because our business model depends to a significant extent upon relationships with private equity sponsors, investment banks and commercial banks, the inability of the Manager or the Private Credit Subadvisers to maintain or develop these relationships, or the failure of these relationships to generate investment opportunities, could adversely affect our business.
  • We may face increasing competition for investment opportunities, which could delay deployment of our capital, reduce returns and result in losses.
  • We face risks associated with the deployment of our capital.
  • As required by the 1940 Act, a significant portion of our investment portfolio is and will be recorded at fair value as determined in good faith and, as a result, there is and will be uncertainty as to the value of our portfolio investments.
  • There is a risk that investors in our shares may not receive distributions or that our distributions may decrease over time.
  • The amount of any distributions we may make is uncertain. Our distributions may exceed our earnings, particularly during the period before we have substantially invested the net proceeds from our offering. Therefore, portions of the distributions that we make may represent a return of capital to shareholders that will lower their tax basis in their shares and reduce the amount of funds we have for investment in targeted assets.
The other 63 risks
  • Our distributions to shareholders may be funded from expense reimbursements or fee waivers that are subject to repayment pursuant to an expense limitation arrangement.
  • We have not established any limit on the amount of funds we may use from available sources, such as borrowings, if any, or proceeds from our ongoing offering, to fund distributions (which may reduce the amount of capital we ultimately invest in assets).
  • Although we have implemented a share repurchase program, we have discretion to not repurchase shares or to suspend the program.
  • The timing of our repurchase offers pursuant to our share repurchase program may be at a time that is disadvantageous to our shareholders.
  • As a public reporting company, we are subject to regulations not applicable to private companies, such as provisions of the Sarbanes-Oxley Act. Efforts to comply with such regulations will involve significant expenditures, and non-compliance with such regulations may adversely affect us.
  • Changes in laws or regulations governing our operations may adversely affect our business or cause us to alter our business strategy.
  • Trade negotiations and related government actions may create regulatory uncertainty for our portfolio companies and our investment strategies and adversely affect the profitability of our portfolio companies.
  • Financial regulatory changes in the United States could adversely affect our business.
  • We, the Manager, the Distributor and their respective affiliates are subject to regulatory oversight, which could negatively impact our operations, cash flow or financial condition, impose additional costs on us or otherwise adversely affect our business.
  • We may experience fluctuations in our quarterly results.
  • We are an “emerging growth company” under the JOBS Act, and we cannot be certain if the reduced disclosure requirements applicable to emerging growth companies will make our shares less attractive to investors.
  • Any unrealized losses we experience on our portfolio may be an indication of future realized losses, which could reduce our income available for distribution.
  • Risks Related to Our Investments
  • Our investments in prospective portfolio companies may be risky, and we could lose all or part of our investment.
  • Risk Associated with Unspecified Transactions; No Assurance of Investment Return.
  • Unsecured Securities and Second-Lien and Third-Lien Debt.
  • The Company may invest in portfolio companies whose capital structures may have significant leverage, which may impair these companies’ ability to finance their future operations and capital needs.
  • Distressed Investments; Restructurings.
  • Distressed/Defaulted Securities.
  • Failure of Financial Institutions and Sustained Financial Market Illiquidity.
  • The nature of bankruptcy proceedings may have a materially adverse effect on the performance of the Company.
  • It may be difficult to bring suit or foreclosure in non-U.S. countries.
  • Investments in middle market companies involve a number of significant risks, any one of which could have a material adverse effect on our operating results.
  • Loans to private companies involve risks that may not exist in the case of more established and/or publicly traded companies.
  • The Company’s portfolio companies may incur debt that ranks equally with, or senior to, our investments in such companies.
  • There could be circumstances in which the Company may not be able to control the modification, waiver or amendment of the terms and conditions of a loan agreement if a sufficient number of the other lenders act contrary to the Company’s preferences.
  • The Company generally will not control its portfolio companies and, due to the illiquid nature of the Company’s holdings in its portfolio companies, the Company may not be able to dispose of its interests in portfolio companies.
  • The Company will be exposed to risks associated with changes in interest rates.
  • Any inaccuracy or incompleteness by a portfolio company or breach of covenants may adversely affect the valuation of the collateral underlying the loans or the ability of the lenders to perfect or effectuate a lien on the collateral securing the loan or the Company’s ability to otherwise realize on or avoid losses in respect of the investment.
  • The portfolio investments in which the Company invests and Prudential’s portfolio companies will be subject to various laws for the protection of creditors in the jurisdictions of the portfolio companies concerned.
  • Implementation of the Company’s strategy is dependent in part on market dislocation impacting the global credit markets.
  • A covenant breach or other default by our portfolio companies may adversely affect the Company’s operating results.
  • We may not realize gains from our equity investments.
  • The Company’s investments in securities or assets of publicly-traded companies are subject to the risks inherent in investing in public traded companies.
  • A lack of liquidity in certain of the Company’s investments may adversely affect the Company’s business.
  • The Company’s investments may include original issue discount and payment-in-kind instruments.
  • The prices of the debt instruments and other securities in which we invest may decline substantially.
  • We may use a wide range of investment techniques that could expose us to a diverse range of risks.
  • We may acquire various financial instruments for purposes of “hedging” or reducing our risks, which may be costly and ineffective and could reduce our cash available for distribution to our shareholders.
  • Prepayments of our debt investments by our portfolio companies could adversely impact our results of operations and reduce our return on equity.
  • Technological innovations and industry disruptions may negatively impact us.
  • We may invest through various joint ventures.
  • Syndication of Co-Investments.
  • Risks Related to the Manager and Its Affiliates; Conflicts of Interest
  • The Manager, PGIM and their affiliates, including our officers and some of our Trustees, face conflicts of interest caused by compensation arrangements with us and our affiliates, which could result in actions that are not in the best interests of our shareholders.
  • We may be obligated to pay the Manager incentive compensation even if we incur a net loss due to a decline in the value of our portfolio.
  • There may be conflicts of interest related to obligations that the Manager’s or Subadvisers' senior management and investment team have to other clients.
  • The time and resources that individuals employed by the Manager and Subadvisers devote to us may be diverted and we may face additional competition due to the fact that individuals employed by the Manager and Subadvisers are not prohibited from raising money for or managing other entities that make the same types of investments that we target.
  • Our shares may be purchased by the Manager, the Subadvisers or their affiliates.
  • The Manager and the Subadvisers rely on key personnel, the loss of any of whom could impair their ability to successfully manage us.
  • The compensation we pay to the Manager will be determined without independent assessment on our behalf, and these terms may be less advantageous to us than if such terms had been the subject of arm’s-length negotiations.
  • The Distributor’s influence on this offer gives it the ability to increase the fees payable to the Manager.
  • Risks Related to Business Development Companies
  • The requirement that we invest a sufficient portion of our assets in Qualifying Assets could preclude us from investing in accordance with our current business strategy; conversely, the failure to invest a sufficient portion of our assets in Qualifying Assets could result in our failure to maintain our status as a BDC.
  • Failure to maintain our status as a BDC would reduce our operating flexibility.
  • Regulations governing our operation as a BDC and RIC will affect our ability to raise, and the way in which we raise, additional capital or borrow for investment purposes, which may have a negative effect on our growth.
  • Our ability to enter into transactions with our affiliates is restricted.
  • We are uncertain of our sources for funding our future capital needs; if we cannot obtain debt or equity financing on acceptable terms, our ability to acquire investments and to expand our operations will be adversely affected.
  • We are a non-diversified investment company within the meaning of the 1940 Act, and therefore we are not limited with respect to the proportion of our assets that may be invested in securities of a single issuer.
  • Risks Related to the Company’s use of Leverage
  • When we use leverage, the potential for loss on amounts invested in us will be magnified and may increase the risk of investing in us. Leverage may also adversely affect the return on our assets, reduce cash available for distribution to our shareholders and result in losses.
  • We may default under our credit facilities.
  • Provisions in a credit facility may limit our investment discretion.
  • Assumed Return on Our Portfolio (Net of Expenses)
  • Compliance with Rule 18f-4 may limit our investment discretion with respect to derivatives.
  • Changes in interest rates may affect our cost of capital and net investment income.
  • Federal Income Tax Risks
  • We will be subject to corporate-level income tax if we are unable to qualify as a RIC under Subchapter M of the Code or to satisfy RIC distribution requirements.

Legal proceedings

We are not currently subject to any material legal proceedings, nor, to our knowledge, are any material legal proceedings threatened against us. From time to time, we may be a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of our rights under contracts with our portfolio companies. Our business is also subject to extensive regulation, which may result in regulatory proceedings against us.

The opening of Item 3, Legal Proceedings.11

Sources

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