PGIM Private Credit Fund Announces February 2026 Distributions and Share Offering Update

Key Points from the Report

• Regular distributions declared for February 2026 for Class S, Class D, and Class I shares.
• Distributions per share:
  • Class S: \$0.19506
  • Class D: \$0.20732
  • Class I: \$0.21243
• Distributions are payable to shareholders of record as of February 27, 2026, with payment expected on or about March 24, 2026.
• Distributions may be received in cash or reinvested through the Fund’s Distribution Reinvestment Plan (“DRIP”).
• The Fund is conducting a public offering of up to \$2.5 billion in shares and has also sold shares via a Private Offering under Section 4(a)(2) of the Securities Act.
• As of the filing date, the Fund has issued and received substantial consideration for the shares, especially in the Class I share category.
• The Fund remains classified as an Emerging Growth Company and indicates it has not opted out of the extended transition period for complying with new/revised accounting standards.
• No securities are registered under Section 12(b) of the Securities Exchange Act, and there is no trading symbol or exchange listing for the shares.

Important Details for Shareholders

• Distribution Details:
  • Class S Common Shares: \$0.19506 per share
  • Class D Common Shares: \$0.20732 per share
  • Class I Common Shares: \$0.21243 per share

  These amounts represent regular monthly distributions for February 2026. Shareholders should note the record and payment dates to ensure eligibility for these distributions.

• Share Issuance and Fund Growth:
  • The Fund has issued a significant number of shares, particularly in Class I. For example, in the Public Offering, 113,423,691 Class I shares have been issued, with total consideration amounting to \$109,102,500.
  • The Private Offering has also contributed notably, with 4,285,940 Class I shares issued and \$109,102,500 in total consideration received.
  • This growth in share issuance may signal strong investor demand and increased assets under management, a potentially positive indicator for the Fund’s future performance and distribution stability.
• Ongoing Offerings:
  • The Fund is continuing to offer shares in both the Public and Private Offerings on a monthly basis.
  • Given the size of the offering (\$2.5 billion), future capital inflows could further impact the Fund’s scale, investment strategy, and possibly distribution levels.
• Emerging Growth Company Status:
  • PGIM Private Credit Fund is classified as an Emerging Growth Company, which may result in more flexible or delayed adoption of new accounting standards. This status may reduce compliance costs and increase adaptability, but could also result in less comparability with peers who adopt new standards earlier.
• No Exchange Listing:
  • Shares of the Fund are not listed on any exchange and do not have a trading symbol. Liquidity is limited to the Fund’s own share repurchase or redemption programs, if offered.

Potentially Price Sensitive Information

• The declaration of regular monthly distributions, especially the higher per-share distribution for Class I shares, may positively influence investor sentiment and demand for the Fund’s shares.
• The significant scale of ongoing share offerings and capital inflows could impact Fund operations and future distribution sustainability, directly affecting shareholder value.
• The lack of exchange listing means shares are not subject to market trading volatility, but also limits liquidity, which investors should carefully consider.

Conclusion

PGIM Private Credit Fund’s announcement of regular February 2026 distributions, along with the scale of ongoing share issuances in both public and private offerings, highlights strong investor interest and robust Fund growth. The substantial capital raised, particularly for Class I shares, and the Fund’s status as an Emerging Growth Company, are noteworthy for current and prospective shareholders. However, the absence of an exchange listing means liquidity is limited, and investors must rely on the Fund’s internal mechanisms for exit opportunities.

Shareholders are encouraged to review their eligibility for the February 2026 distribution and consider the potential impacts of further share issuances and the Fund’s growth trajectory on their investment.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research and consult with financial advisors before making investment decisions. All information is based on the latest available filings and is subject to change.

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