PGIM has held the final close of PGIM Senior Loan Opportunities II, the second commingled private credit fund open to unaffiliated investors in its middle market direct lending series, with over $4.2bn in available capital commitments.
Building on its predecessor, PSLO II – which attracted commitments from a diverse group of institutional investors, including insurance companies, pension funds, and sovereign wealth funds – will provide senior secured financing to middle market companies across North America, Europe, and Australia.
PSLO II’s strategy focuses on delivering attractive risk-adjusted returns through a diversified portfolio of directly originated senior loans to both sponsored and non-sponsored issuers. The fund has already begun deploying capital, with a strong pipeline of opportunities and a well-developed investment portfolio.
As a long-term private credit market participant, PGIM has managed direct lending strategies for affiliate investors since 2000. Today, PGIM manages a range of strategies that span the direct lending market from the lower middle market (through PGIM’s partnership with Deerpath Capital); to the middle market, where the firm has strategies catering to high-net-worth and institutional clients; as well as the large-cap market segment.
In June 2025, PGIM confirmed it would bring together its Fixed Income and Private Credit businesses under a global capability spanning public and private markets, creating an industry-leading public and private fixed income team with a credit platform of nearly $1tn.
