PRU News & Events

PGIM has launched the PGIM Jennison U.S. Core Equity ETF, an actively managed exchange-traded fund that seeks to provide investors with access to a diversified U.S. equity portfolio through a cost-efficient structure.

PGIM announced that the PGIM Real Estate Fund has completed its 10th property acquisition with the purchase of The Arbor, a 127-unit housing community in the Riverdale neighborhood in the Bronx, New York, at a gross capitalization of $73.3M. The fund acquired the asset in a joint venture with Fetner Properties through a sale and leaseback with the seller, Columbia University. Beginning in July 2026, apartments are expected to be re-leased in two phases and will be operated as a residential property while it undergoes a value-add capital improvement program.

Prismic Life announced the completion of its previously announced capital raise. The approximately $1.9B of total commitments reflects an oversubscribed closing, exceeding its original $1.6B target. The additional capital expands Prismic's capacity and flexibility to support a broader range of reinsurance opportunities. Prismic is sponsored by Prudential Financial and Warburg Pincus. This capital raise included investments from a global consortium of world-class institutional investors, underscoring continued demand for Prismic's differentiated reinsurance platform. Prismic is a Bermuda-exempted limited partnership and the holding company of Prismic Life Reinsurance, Ltd. and Prismic Life Reinsurance International, Ltd., each a licensed Class E Bermuda-based life and annuity reinsurance company. Including this close, Prismic has raised more than $3.3B in capital to support the reinsurance of liabilities, including PFI's U.S. and Japanese liabilities as well as third-party business, such as the recent Daiichi Life transaction.

PGIM announced the launch of its first private credit collective investment trust for defined contribution retirement plans. The PGIM Investment Grade Private Credit Fund of the Prudential Trust Company Alternative Investments Collective Trust will be used within professionally managed retirement solutions such as target date funds, stable value funds and other white label or multimanager investment structures and is designed to provide DC plans with diversified exposure to private credit while supporting plan-level operational, liquidity and fiduciary considerations.