PC · PRIVATE CREDIT

PGIM Private Credit Fund

PGIM · BDC

Program Overview

BDC

Sponsor/Manager

PGIM

Asset Class

Private Credit

Issuer

PGIM Private Credit Fund

Issuer Legal Structure

Delaware Statutory Trust

Program Life Structure

Evergreen

Securities Offered

Equity - Class I Shares Equity - Class S Shares Equity - Class D Shares

Target Leverage

Minimum 150% asset coverage 150% coverage. $176.2M debt at 8/31/2026 (0.52x): SMBC revolver ($175M), Deutsche Bank SPV facility ($200M from 9/18/2026), $0.2M 12% notes. Both facilities are secured.

Strategy Risk/Return Profile

—

Managing Broker-Dealer

Prudential Investment Management Services LLC

Maximum Offering

$2,500,000,000

Minimum Investment

$2,500

Class S Shares · waivable

Strategy Overview

Externally managed, non-diversified, perpetual-life BDC seeking current income and, to a lesser extent, long-term capital appreciation. It invests at least 80% in private credit: first-lien floating-rate loans to U.S. core and lower middle-market companies ($5M-$75M EBITDA), with up to 30% non-U.S. and 20% second lien or unsecured. At 8/31/2026: 89 positions, $464.7M fair value, 99.6% first lien, 100% floating, 41.4% weighted LTV; $308.3M NAV and 0.52x debt-to-equity.

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