Below Investment Grade: PRIVEST PLUS
A separate account organized under a group annuity contract, PRIVEST Plus is a commingled vehicle available since 2004 that is focused on fixed rate, below investment grade private placements with a BBB and distressed sleeve.
Investment Strategy
The fixed rate, below investment grade market is small in size relative to the bank loan / floating rate market and the market’s regulatory and other market inefficiencies can present unique investment opportunities.
PGIM Private Capital’s wide sourcing net, scale, and experience provide unique advantages in this niche market. The PRIVEST Plus return objective is the U.S. Intermediate Credit Index plus 250 basis points. It is only available to qualified U.S. pension plans. Comparable strategies available under individual managed accounts. Comparable strategies available under individual managed accounts.
Executive Management Oversight
Albert Trank
Executive Managing Director
& Portfolio Manager
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Steve Collins
Executive Managing Director
& Chief Credit Officer
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Matt Douglass
Senior Managing Director
& Head of PGIM Private Capital
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Marie Fioramonti
Executive Managing Director
& Head of Global Corporate Finance
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