Key Takeaways
- • PGIM, the $1.4 trillion global asset management business of Prudential Financial, launched its first private credit collective investment trust (CIT) for defined contribution (DC) retirement plans, per a Business Wire release dated May 14, 2026.
- • The PGIM Investment Grade Private Credit Fund of the Prudential Trust Company Alternative Investments Collective Trust is designed for use in target date funds, stable value funds and other white label or multimanager structures.
- • The CIT is trusteed by Prudential Trust Company and subadvised by PGIM's multi-sector credit team, with exposure to investment-grade private placements and investment-grade asset-based finance securities.
- • PGIM manages $264 billion in private credit assets and $57 billion across more than 55 CITs on the Prudential Trust Company and Great Gray trustee platforms (figures as of March 31, 2026).
- • The launch is expected to be the first of several private markets solutions PGIM plans to tailor to DC plans.
Summary
PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), announced the launch of its first private credit collective investment trust for defined contribution retirement plans. According to the company, the vehicle is designed to give DC plans diversified exposure to private credit while addressing plan-level operational, liquidity and fiduciary considerations. The fund is intended for use within professionally managed retirement solutions such as target date funds, stable value funds and other white label or multimanager investment structures.
The CIT is trusteed and managed by Prudential Trust Company, a Pennsylvania-chartered, non-depository trust company and indirect wholly owned subsidiary of Prudential Financial. PGIM's multi-sector credit team serves as subadvisor. The fund provides exposure to a broad range of investment-grade private placement and investment-grade asset-based finance securities. The multi-sector credit team sits within PGIM's $1.2 trillion credit platform.
John Vibert, head of Credit at PGIM, said DC plan sponsors are increasingly seeking ways to diversify beyond traditional fixed income, but available structures have not always kept pace with the opportunity set. Sara Shean, head of Institutional DC at PGIM, said private markets have long played an important role in institutional portfolios but access within DC plans has historically been limited. PGIM noted that it was among the first asset managers to bring private assets to the DC space, having launched a private real estate vehicle for retirement plans more than 20 years ago.
PGIM says the CIT is expected to be the first of several private markets solutions it intends to launch for DC plans. The fund is offered solely to eligible institutional investors and is not registered under the Investment Company Act of 1940 or the Securities Act of 1933.
The CIT is trusteed and managed by Prudential Trust Company, a Pennsylvania-chartered, non-depository trust company and indirect wholly owned subsidiary of Prudential Financial. PGIM's multi-sector credit team serves as subadvisor. The fund provides exposure to a broad range of investment-grade private placement and investment-grade asset-based finance securities. The multi-sector credit team sits within PGIM's $1.2 trillion credit platform.
John Vibert, head of Credit at PGIM, said DC plan sponsors are increasingly seeking ways to diversify beyond traditional fixed income, but available structures have not always kept pace with the opportunity set. Sara Shean, head of Institutional DC at PGIM, said private markets have long played an important role in institutional portfolios but access within DC plans has historically been limited. PGIM noted that it was among the first asset managers to bring private assets to the DC space, having launched a private real estate vehicle for retirement plans more than 20 years ago.
PGIM says the CIT is expected to be the first of several private markets solutions it intends to launch for DC plans. The fund is offered solely to eligible institutional investors and is not registered under the Investment Company Act of 1940 or the Securities Act of 1933.
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