PGIM Private Credit Fund Reports Strong Financial Performance for Six Months Ending June 30, 2026

PGIM Private Credit Fund reported significant financial performance for the six months ending June 30, 2026, with total investment income reaching $20.6 million, a substantial increase from $13.2 million during the same period in 2025. This growth was primarily driven by a rise in interest income from non-controlled/non-affiliated investments, which surged to $19.6 million from $12.8 million year-over-year. The fund's net investment income also improved, totaling $11.8 million compared to $9.4 million in the prior year. The net increase in net assets resulting from operations was $12.5 million, up from $8.7 million in the previous fiscal period.

The fund's total assets as of June 30, 2026, amounted to $449.0 million, reflecting a notable increase from $383.9 million at the end of 2025. This growth was attributed to a rise in investments at fair value, which increased to $425.6 million from $359.4 million. The fund's liabilities decreased to $154.6 million from $179.3 million, primarily due to a reduction in the outstanding balance of its credit facility. The net asset value per share for Class I Shares was reported at $24.75, slightly down from $24.87 at the end of 2025, while Class S and Class D Shares also saw minor declines in their respective net asset values.

Strategically, PGIM Private Credit Fund has continued to focus on expanding its investment portfolio, acquiring $186.0 million in new investments during the first half of 2026, compared to $74.7 million in the same period of 2025. The fund's investment strategy emphasizes privately placed floating rate leveraged debt, primarily targeting middle-market companies in the U.S. and selectively in international markets. As of June 30, 2026, the fund's portfolio included 84 companies, with a significant portion of its investments in first lien debt.

Operationally, the fund's engagement metrics showed a robust increase in customer counts, with the number of shares outstanding rising to 11.8 million from 8.2 million at the end of 2025. The fund's management fees for the first half of 2026 totaled $1.7 million, reflecting the growth in assets under management. The fund also maintained a strong asset coverage ratio of 298.84%, indicating a solid capital structure to support its investment activities.

Looking ahead, PGIM Private Credit Fund remains optimistic about its growth trajectory, with plans to continue leveraging its investment strategy to generate income and capital appreciation. The fund's management has indicated that it will focus on maintaining its regulatory compliance as a business development company and regulated investment company, while also navigating potential market challenges such as interest rate fluctuations and economic conditions. The fund's commitment to shareholder returns is underscored by its monthly distribution strategy, with a recent declaration of $0.21243 per Class I Share, reflecting its ongoing commitment to delivering value to investors.