PGIM to acquire a majority stake in Deerpath Capital Management.

PGIM, an investment management business of Prudential Financial, agreed to acquire a majority stake in Deerpath Capital Management, a private credit and direct lending manager. Financial terms were not disclosed. “This partnership with Deerpath Capital reflects our ambition to further grow our alternatives platform. It complements PGIM Private Capital’s existing direct lending capabilities by adding expertise in the lower middle market-sponsored space, further enhancing the direct origination platform of PGIM Private Capital’s core middle market-focused direct lending platform," David Hunt, PGIM President and CEO.