PGIM holds final close on $4.2bn opportunities fund

The senior secured fund beats its target, as the manager combines its fixed income and private credit businesses.

PGIM has held a final close of its PGIM Senior Loan Opportunities II on more than $4.2 billion, in one of the largest mid-market direct lending fundraises this year.

The fund, the manager’s second commingled mid-market private credit fund for unaffiliated investors, beat its target of $3 billion by more than one-third, per Private Debt Investor research.