PGIM, the investment management arm of US insurer Prudential Financial, has announced it will acquire the remaining 25% stake in Deerpath Capital, a US-based private credit firm. The deal, confirmed on 27 July 2026, gives PGIM full control of Deerpath and deepens its foothold in the rapidly growing private lending sector.
Deerpath Capital focuses on providing direct loans to mid-sized companies, an area that has attracted significant institutional capital as traditional banks retreat from certain lending segments. PGIM initially acquired a majority stake in Deerpath in 2022 and has now moved to take complete ownership, though financial terms of the latest transaction have not been disclosed.
For UK investors, the expansion of private credit managers like PGIM signals a broader shift in how corporate debt is originated and held. Pension funds and insurers — major clients of PGIM — have increasingly allocated capital to private credit in search of higher yields and diversification away from public bond markets. The deal may also influence the competitive landscape for UK-based alternative lenders.
Analysts note that private credit assets under management globally have swelled past $1.5 trillion, with further growth expected as companies seek flexible financing outside the banking system. PGIM’s move consolidates its position in this space, potentially allowing it to offer more tailored lending products to institutional clients.
The transaction is subject to customary regulatory approvals and is expected to close in the coming months. No changes to Deerpath Capital’s day-to-day operations or management team have been announced.