PGIM Private Capital has completed fundraising for PGIM Senior Loan Opportunities I, L.P., with available capital commitments exceeding $2.4 billion. PSLO I marks PGIM Private Capital’s inaugural Direct Lending fund subscribed by unaffiliated investors, following over two decades of successful capital deployment in comparable direct lending strategies for affiliated investors. PGIM Private Capital is a leading source of private credit for public and private companies and is the private capital arm of PGIM, the $1.5 trillion global investment management business of Prudential Financial, Inc.
PGIM Senior Loan Opportunities I, L.P., achieved its final closing in January 2022, within one year of its first closing and amid ongoing economic uncertainty. The fund is supported by a blue-chip institutional investor base including insurance companies, pension funds and sovereign wealth funds across the U.S., Europe and Asia.
PGIM Private Capital’s Direct Lending approach is based on establishing close, long-term relationships with counterparties, which often enables more exhaustive due diligence and better investment suitability determination. The fund’s strategy accelerates PGIM Private Capital’s investment efforts to support middle-market companies primarily operating in North America, Europe and Australia. Early deployment momentum has been strong with nearly 50% of the fund’s capital already invested, signaling strong continued growth in PGIM Private Capital’s direct lending origination capability.
Read more: BusinessWire
