PGIM announced the launch of its first private credit collective investment trust (CIT) for defined contribution retirement plans, expanding access to private credit strategies within the retirement market. The new PGIM Investment Grade Private Credit Fund of the Prudential Trust Company Alternative Investments Collective Trust is designed for use within professionally managed retirement solutions, including target date funds, stable value funds, and other white-label or multimanager investment structures.
The CIT will be trusteed and managed by Prudential Trust Company and subadvised by PGIM’s multi-sector credit team. The fund provides exposure to a diversified portfolio of investment-grade private placement and investment-grade asset-based finance securities while addressing operational, liquidity, and fiduciary considerations relevant to defined contribution plans.
PGIM said the launch builds on the firm’s long-standing involvement in private markets and retirement investment solutions. The company manages a $1.2 trillion credit platform and oversees $264 billion in private credit assets as of March 31, 2026. PGIM also currently subadvises $57 billion across more than 55 CITs available on the Prudential Trust Company and Great Gray trustee platforms.
The firm noted that institutional demand for broader access to private markets within retirement plans continues to increase as plan sponsors seek diversification opportunities beyond traditional fixed income investments. PGIM indicated the new fund is expected to be the first in a broader pipeline of private markets solutions tailored for defined contribution plans.
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“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. 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.”
John Vibert, Head of Credit, PGIM
“Private markets have long played an important role in institutional portfolios, but access within DC plans has historically been limited. 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.”
Sara Shean, Head of Institutional DC, PGIM