<p><strong>PGIM</strong>，<strong>保德信金融</strong> 的 (NYSE: PRU) 1.4 万亿美元的投资部门正在为退休计划开辟新天地。</p>
<p>该公司推出了其 首个私人信贷 集体投资信托（CIT），用于确定缴款退休计划。该基金将用于专业管理的退休解决方案中，如目标日期基金和稳定价值基金，以及其他多经理投资结构。</p>
<p>官方名称是保德信信托公司替代投资集体信托的 PGIM 投资级私人信贷基金。</p>
<p>保德信信托公司将担任受托人和管理者，而 PGIM 的多部门信贷团队将担任次顾问。</p>
<p><strong>另请阅读：</strong>
<strong>汇丰银行在行业动荡中持有 40 亿美元的私人信贷干粉</strong></p>
<h2>弥合 DC 计划与私人市场之间的差距</h2>
<p>“DC 计划赞助商越来越希望寻找超越传统固定收益的多样化方式，但可用的结构并不总是与机会集保持同步，”<strong>John Vibert</strong>，PGIM 信贷负责人表示。</p>
<p>PGIM 管理着 2640 亿美元的私人信贷资产。它通过一个全球来源网络获取交易，涵盖直接、代理、赞助和非赞助渠道。</p>
<p>“私人市场在机构投资组合中长期以来发挥着重要作用，但在 DC 计划中的准入历史上一直有限，”<strong>Sara Shean</strong>，PGIM 机构 DC 负责人表示。“这个新的集体投资信托反映了 PGIM 继续关注通过与 DC 计划的细致需求相一致的结构扩大私人信贷准入，同时寻求为退休储蓄者提供有吸引力的风险调整收益。”</p>
<p>PGIM 在保德信信托公司和 Great Gray 受托人平台上为超过 55 个 CIT 管理 570 亿美元的资产。该公司表示，预计此次推出将是为 DC 计划量身定制的一系列私人市场产品中的第一款。</p>
<p><strong>劳工部</strong>（DOL）今年早些时候发布了 一项拟议法规，允许退休计划包括对替代资产的投资，特别是加密货币和私人市场。</p>
<p>“拟议法规的总体目标是减轻某些监管负担和诉讼风险，这些负担和风险妨碍美国工人通过其退休账户实现竞争性回报和资产多样化，从而确保体面和舒适的退休生活，” 执行摘要 指出。</p>
<p>拟议规则的公众评论期将于 6 月 1 日结束。之后，DOL 将把 反馈 纳入最终规则，预计将在 2026 年底前发布，计划赞助商的分阶段实施将于明年开始。</p>
<p><strong>另请阅读：</strong>
<strong>SpaceX、OpenAI 和 Anthropic 的退出潮可能引发私人市场重新定价</strong></p>
<p><em>照片：图片来自 Shutterstock/ simon jhuan</em></p>

保德信金融

<p>PGIM 推出了首个针对确定缴款退休计划的私人信贷集合投资信托（CIT），旨在将投资选项多样化，超越传统固定收益。PGIM 投资级私人信贷基金将由保德信信托公司管理，PGIM 的信贷团队担任子顾问。这一举措反映了在退休计划中纳入替代资产的日益趋势，并得到了拟议的劳动部法规的支持，以便于获取此类投资</p>

<p><strong>PGIM</strong>, <strong>Prudential Financial'</strong> s (NYSE: PRU) $1.4 trillion investment arm, is breaking new ground for retirement plans.</p>
<div class="lb-trans"><p><strong>PGIM</strong>，<strong>保德信金融</strong> 的 (NYSE: PRU) 1.4 万亿美元的投资部门正在为退休计划开辟新天地。</p>
</div><p>The firm rolled out its first private credit collective investment trust (CIT) for defined contribution retirement plans. The fund will be used within professionally managed retirement solutions, such as target-date and stable-value funds, as well as other multi-manager investment structures.</p>
<div class="lb-trans"><p>该公司推出了其 首个私人信贷 集体投资信托（CIT），用于确定缴款退休计划。该基金将用于专业管理的退休解决方案中，如目标日期基金和稳定价值基金，以及其他多经理投资结构。</p>
</div><p>The official name is the PGIM Investment Grade Private Credit Fund of the Prudential Trust Company Alternative Investments Collective Trust.</p>
<div class="lb-trans"><p>官方名称是保德信信托公司替代投资集体信托的 PGIM 投资级私人信贷基金。</p>
</div><p>Prudential Trust Company will serve as trustee and manager, while PGIM's multi-sector credit team will act as subadviser.</p>
<div class="lb-trans"><p>保德信信托公司将担任受托人和管理者，而 PGIM 的多部门信贷团队将担任次顾问。</p>
</div><p><strong>Read Also:</strong>
<strong>HSBC Sits On $4 Billion In Private Credit Dry Powder Amid Sector Turmoil</strong></p>
<div class="lb-trans"><p><strong>另请阅读：</strong>
<strong>汇丰银行在行业动荡中持有 40 亿美元的私人信贷干粉</strong></p>
</div><h2>Bridging The Gap Between DC Plans And Private Markets</h2>
<div class="lb-trans"><h2>弥合 DC 计划与私人市场之间的差距</h2>
</div><p>&#34;DC plan sponsors are increasingly looking for ways to diversify beyond traditional fixed income, but the structures available to them haven't always kept pace with the opportunity set,&#34; said <strong>John Vibert,</strong> head of credit at PGIM.</p>
<div class="lb-trans"><p>“DC 计划赞助商越来越希望寻找超越传统固定收益的多样化方式，但可用的结构并不总是与机会集保持同步，”<strong>John Vibert</strong>，PGIM 信贷负责人表示。</p>
</div><p>PGIM manages $264 billion in private credit assets. It sources deals through a global origination network spanning direct, agented, sponsored and non-sponsored channels.</p>
<div class="lb-trans"><p>PGIM 管理着 2640 亿美元的私人信贷资产。它通过一个全球来源网络获取交易，涵盖直接、代理、赞助和非赞助渠道。</p>
</div><p>&#34;Private markets have long played an important role in institutional portfolios, but access within DC plans has historically been limited,&#34; said <strong>Sara Shean</strong>, head of Institutional DC at PGIM. &#34;This new collective investment trust reflects PGIM's continued focus on expanding access to private credit through structures that align with the nuanced needs of DC plans while seeking to deliver attractive risk-adjusted outcomes for retirement savers.&#34;</p>
<div class="lb-trans"><p>“私人市场在机构投资组合中长期以来发挥着重要作用，但在 DC 计划中的准入历史上一直有限，”<strong>Sara Shean</strong>，PGIM 机构 DC 负责人表示。“这个新的集体投资信托反映了 PGIM 继续关注通过与 DC 计划的细致需求相一致的结构扩大私人信贷准入，同时寻求为退休储蓄者提供有吸引力的风险调整收益。”</p>
</div><p>PGIM subadvises $57 billion in assets across more than 55 CITs on the Prudential Trust Company and Great Gray trustee platforms. The firm said it expects this launch to be the first in a series of private markets offerings tailored for DC plans.</p>
<div class="lb-trans"><p>PGIM 在保德信信托公司和 Great Gray 受托人平台上为超过 55 个 CIT 管理 570 亿美元的资产。该公司表示，预计此次推出将是为 DC 计划量身定制的一系列私人市场产品中的第一款。</p>
</div><p><strong>The Department of Labor</strong>(DOL) has issued a proposed regulation earlier this year that would allow retirement plans to include investments in alternative assets, specifically cryptocurrencies and private markets.</p>
<div class="lb-trans"><p><strong>劳工部</strong>（DOL）今年早些时候发布了 一项拟议法规，允许退休计划包括对替代资产的投资，特别是加密货币和私人市场。</p>
</div><p>“The overarching goal of the proposed regulation is to alleviate certain regulatory burdens and litigation risk that interfere with the ability of American workers to achieve, through their retirement accounts, the competitive returns and asset diversification necessary to secure a dignified and comfortable retirement,” the executive summary reads.</p>
<div class="lb-trans"><p>“拟议法规的总体目标是减轻某些监管负担和诉讼风险，这些负担和风险妨碍美国工人通过其退休账户实现竞争性回报和资产多样化，从而确保体面和舒适的退休生活，” 执行摘要 指出。</p>
</div><p>The public comment period on the proposed rule ends on June 1. After that, the DOL will incorporate feedback into a final rule, which is expected by late 2026, with phased implementation for plan sponsors beginning next year.</p>
<div class="lb-trans"><p>拟议规则的公众评论期将于 6 月 1 日结束。之后，DOL 将把 反馈 纳入最终规则，预计将在 2026 年底前发布，计划赞助商的分阶段实施将于明年开始。</p>
</div><p><strong>Read Also:</strong>
<strong>SpaceX, OpenAI, And Anthropic's Exit Wave Could Trigger A Private Market Repricing</strong></p>
<div class="lb-trans"><p><strong>另请阅读：</strong>
<strong>SpaceX、OpenAI 和 Anthropic 的退出潮可能引发私人市场重新定价</strong></p>
</div><p><em>Photo: Image via Shutterstock/ simon jhuan</em></p>
<div class="lb-trans"><p><em>照片：图片来自 Shutterstock/ simon jhuan</em></p>
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PGIM 将私人信贷引入 401(k) 计划：DC 计划开始接触另类资产