PGIM Launches Private Credit CIT for Defined Contribution Plans
PGIM, the $1.4 trillion global investment management business of Prudential Financial, Inc., today launched its first private credit collective investment trust (CIT) for defined contribution (DC) retirement plans.
The PGIM Investment Grade Private Credit Fund of the Prudential Trust Company Alternative Investments Collective Trust will be used within professionally managed retirement solutions such as target date funds, stable value funds and other white label or multimanager investment structures and is designed to provide DC plans with diversified exposure to private credit while supporting plan-level operational, liquidity and fiduciary considerations.
“DC plan sponsors are increasingly looking for ways to diversify beyond traditional fixed income, but the structures available to them haven’t always kept pace with the opportunity set,” said John Vibert, head of Credit at PGIM. “With a long lineage in private credit and a trillion-dollar credit platform, PGIM is well positioned to deliver solutions that are leading-edge and purpose-built for the operational and liquidity requirements of the retirement channel.”
Trusteed and managed by the Prudential Trust Company, the CIT is subadvised by PGIM’s multi-sector credit team and provides exposure to a broad range of investment-grade private placement and investment-grade asset-based finance securities. The multi-sector credit team is part of PGIM’s $1.2 trillion (as of March 31, 2026) credit platform. The group leverages the firm’s public and private markets expertise to develop innovative investment solutions for nascent markets, such as the DC channel.
PGIM noted in today’s release it was among the first asset managers to bring private assets to the DC space when it launched a vehicle giving retirement plans access to private real estate investments over 20 years ago. The firm has operated in private credit for many decades and today manages $264 billion of private credit assets, identifying opportunities through a large global sourcing network which drives differentiated origination with broad access to direct, agented, sponsored and non-sponsored channels.
“Private markets have long played an important role in institutional portfolios, but access within DC plans has historically been limited.”
PGIM’s Sara Shean
“Private markets have long played an important role in institutional portfolios, but access within DC plans has historically been limited,” said Sara Shean, head of Institutional DC at PGIM. “This new collective investment trust reflects PGIM’s continued focus on expanding access to private credit through structures that align with the nuanced needs of DC plans while seeking to deliver attractive risk-adjusted outcomes for retirement savers.”
PGIM subadvises $57 billion in assets across over 55 CITs offered on the Prudential Trust Company and Great Gray trustee platforms. The CIT is expected to be the first of several private markets solutions PGIM intends to launch tailored to DC plans as demand for diversified institutional investment capabilities continues to grow.
The Fund is offered solely to eligible institutional investors and is not available to the general public. Professional investors and institutional audiences can learn more about PGIM’s CIT offerings at pgim.com.
SEE ALSO:
• Goldman Sachs Launching Private Credit CIT for 401(k) Market
• CIT Adoption is Rising as Plan Sponsors Weigh Tradeoffs Like Fees and Flexibility
• Rep. Neal Pushes GAO to Investigate Private Assets in 401(k) Plans
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.