PGIM Global Private Credit SCA

PGIM Global Private Credit SCA is an open-end SICAV managed by PGIM Private Capital (Ireland) Limited and domiciled in Luxembourg, where it operates under the UCI Part II framework rather than as an ELTIF, with N/A recorded for the ELTIF regime. The vehicle invests in private debt through a direct lending approach, is denominated in USD, carries an Article 8 classification under SFDR and dates from 2026. It is positioned for professional investors on a pan-European distribution basis, with a stated entry threshold of 25,000 USD.

Liquidity mechanics follow the evergreen semi-liquid pattern used across much of this segment: units are priced at a monthly NAV, capital can be committed at a monthly cadence, and redemptions are processed on a quarterly basis subject to a notice period of 30 and a soft lock-up applying to newly subscribed capital. Investors should note that the asymmetry between subscription and redemption windows, together with the notice requirement, means subscribed capital is matched against an underlying loan portfolio that is held to maturity rather than traded, and that redemption capacity depends on the repayment profile of that portfolio. Fee terms are set at for management and on performance, both benchmarked within the peer set below.

Within the research universe of 494 vehicles, the fund is one of 148 covering private debt and one of 347 domiciled in Luxembourg; the overlap of both criteria narrows the comparison group to 108 funds, which is the cohort against which its structure, dealing terms and fee levels are most directly comparable. Its Non-ELTIF status differentiates it from the ELTIF-structured portion of that cohort, which carries a separate set of eligibility and distribution rules.