PGIM to Acquire Majority Stake in Deerpath


On May 2, 2023, PGIM Investments LLC announced an agreement to acquire a majority interest in Deerpath Capital Management, LP. 

Under the terms of the transaction, PGIM Investments LLC (“PGIM”) will acquire a majority interest in Deerpath Capital Management, LP (“Deerpath”). Deerpath will retain its operational and investment independence as a distinct brand from PGIM. The deal is expected to close in the fourth quarter of 2023 and is subject to customary regulatory approvals.

PGIM, based in Newark, New Jersey, is the global asset management business of Prudential Financial, Inc. (NYSE: PRU). PGIM provides investment solutions for retail and institutional investors across a broad range of asset classes, including private fixed income, public fixed income, quantitative equity, fundamental equity, real estate and alternatives. PGIM manages approximately $1.2 trillion in assets under management.  Bank of America served as the exclusive financial advisor to PGIM in this deal.

Deerpath, based in New York, New York, is a private credit and direct lending manager focused on financing private-equity backed lower middle market companies. Deerpath has over $5 billion in assets under management. 

To read the press release: please click here.

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