PGIM Private Capital has launched its first European Long-Term Investment Fund (Eltif) which will be focussed on direct lending.
The vehicle aims to facilitate loan origination across PGIM Private Credit’s European platform, providing flexibility to extend loans across the continent with a varied mix of borrower type.
Matt Harvey, head of direct lending at PGIM Private Capital, said: “The majority of our loan origination is done on a direct basis, building one-on-one relationships with companies.
“This Eltif structure will give us the flexibility we need to partner with the widest range of companies and enable us to further meet the growing need for private credit solutions from borrowers across Europe.”
PGIM Private Capital, the private capital arm of PGIM, has US$101.5 billion in AuM.
