PGIM, together with MCP, launches USD 1bn private credit secondaries platform.

PGIM, together with MCP, has announced a significant strategic expansion into private credit secondaries, committing up to USD 1bn over the next two years. Leveraging decades of combined expertise in private credit and private equity secondaries, the new platform aims to capitalize on a rapidly growing market expected to surpass USD 50bn in deal volume within the next few years. 

The platform will focus on sourcing opportunities in direct lending and opportunistic credit strategies -including mezzanine and special situations - targeting both GP- and LP-led deals across the U.S. and Europe, with a particular focus on middle-market transactions. The initiative is led by Managing Director and Head of Private Credit Secondaries Alex Stuart, and Senior Principal of Private Credit Secondaries Maelle Reichenbach, and supported by teams across PGIM and MCP. It builds on the joint platform comprising USD 265bn in assets under management across private credit and secondaries. 

Access the full press release here.