PGIM and Partners Group to create public-private asset portfolio products
The two struck a partnership to create multi-asset investment products designed for both individual investors and the institutional investor channel

PGIM raises USD 619m to finance oil and gas companies
The fund will provide flexible private debt and structured equity to fund middle market upstream oil and gas and midstream companies in North America

PGIM looks to build private credit secondaries strategy
EXCLUSIVE: The insurer-linked asset manager already has secondaries capabilities through the acquisition of Montana Capital Partners in 2021

PGIM shakes up credit platforms in major reorganization
The reorganization eliminates the separation between PGIM Private Capital and PGIM Fixed Income. The insurer-led firm appointed a single head of public and private fixed income  

Economic uncertainty clouds Milken conference but lev fin markets keep moving
Attendees leave a cloudy LA with few answers but a little more faith in the US leveraged finance markets

PGIM Fixed Income poaches Blackstone exec for private ABF effort
The firm is building a dedicated asset-based finance platform

PGIM Fixed Income builds large cap direct lending with new hire
PGIM Fixed Income has picked up a former Texas Capital managing director as it builds out its large cap direct lending business 

PGIM to bring mezz fund back to market in 2025
PGIM Private Capital, the middle market private debt business of global investment manager PGIM, plans to launch its latest private credit mezzanine fund next year

PGIM Private Capital launches ELTIF
PGIM Private Capital rolled out its first European long-term investment fund as managers continue to adopt the new fund structure

PGIM buys majority stake in direct lender Deerpath
PGIM has bought a majority interest in direct lending firm Deerpath Capital Management

Credit Rendezvous: Make yourself comfortable, there’s a storm coming
In our Q1 outlook, we speak to Edwin Wilches, PGIM (US CLOs), Mikkel Sckerl and Flemming Dose, Capital Four (European CLOs),  Jim Fitzpatrick, CQS (US loans), Loic Prevot, Polus (European loans), Madelaine Jones, Oaktree (global high yield), Art Penn, Pennant Park (US direct lending), Mattis Poetter, Arcmont (European direct lending), Keerthi Raghavan, Waterfall (structured credit), Ray Costa, Benefit Street (distressed), Grant Webster, Ninety One (Emerging markets), Oumar Diallo, Aeon (real assets) for their views for the upcoming quarter. 

PGIM's global CLO chief to become CEO of fixed income in 2024
John Vibert, who oversees PGIM’s global CLO business, has been appointed president and chief executive officer of PGIM's fixed income unit effective January 2024

LP round up: two managers terminated as 20 win $2.5 billion
US institutional investors allocated over $2.5 billion to 20 credit managers in October, according to documents seen by Creditflux. Two credit fund managers however were terminated in the month

LP round up: Oak Hill wins $3bn mandate as credit allocations near $10bn in March
Institutional investors revealed over $9.5 billion of allocations to credit funds in March. Oak Hill Advisors walked away with the largest mandate, as US heavyweight pension Calpers allocated a whopping $3 billion across several of its funds

PGIM raises $2.4 billion for inaugural direct lending fund
PGIM Private Capital held a final close on its inaugural direct lending fund, PGIM Senior Loan Opportunities I

KKR and PGIM among bidders to buy Alcentra: Bloomberg
BNY Mellon is set to offload its credit investment unit Alcentra, according to a report by Bloomberg citing people familiar with the matter

Credit Fundraising: Private credit and CLO captive equity feature strongly as closes mount up
Credit funds have made a fair start to the fourth quarter, although the $21 billion raised during October is down substantially on September’s impressive record for 2021

Credit Rendezvous: Credit spins full circle
The third quarter was massive in terms of volumes with CLOs, high yield, leverage loans and private equity registering record issuance. But credit spreads were up and down as inflation fears, crackdowns in China and rising coronavirus cases became catalysts for risk-off sentiment in July and September

Credit funds at a glance (October 2021)
A round up of fundraising and people moves in credit

CSAM regains best manager throne
Upstart CLO managers overtook more experienced rivals at last year’s Creditflux Manager Awards, but CSAM and other large firms, such as PGIM, emerged victorious in London this time around

PGIM launches first dedicated ESG bond fund
PGIM says it has launched its first dedicated environmental, social and governance fixed income strategy for US investors, citing increased demand from clients for optionality between traditional and ESG investment strategies

ESG factors show up in leveraged loan pricing in US
Environmental, social, and corporate governance factors are filtering through to the US CLO market and influencing loan prices

Credit Rendezvous: ready and waiting
In Creditflux's quarterly review of credit, portfolio managers tell us that Inflation is likely to nudge higher but they are optimistic because dispersion will pick up and windows of volatility will emerge, rather than elongated phases of stress 

PGIM hires senior European lev fin PM
PGIM has hired the former head of European high yield and global loans at Aberdeen Standard Investments

LP round up: $5 billion flows to credit as private market allocations increase
Global institutional investors allocated nearly $5 billion to credit funds this week, according to documents seen by Creditflux