Debra Rubano
About Debra Rubano
Debra Rubano is Assistant Secretary of PGIM Private Credit Fund; her year of birth is 1975 and she has served in this officer role since September 2022 . She is Vice President and Corporate Counsel at Prudential (PGIM Investments’ parent) since November 2020 and holds Assistant Secretary roles across PGIM Alternatives, PGIM Retail Funds, and Prudential Annuities Funds; previously she was Director and Senior Counsel at Allianz Global Investors U.S. Holdings LLC (2010–2020) and Assistant Secretary for numerous funds in the Allianz complex (2015–2020) . The Fund is a BDC with aggregate NAV of $174.1 million, investment portfolio fair value of $250.0 million, and $79.8 million of debt outstanding as of August 31, 2025; it pays monthly distributions to shareholders across share classes, but officers do not receive direct compensation from the Fund, constraining pay‑for‑performance assessment via Fund proxies .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Prudential Financial / PGIM Investments | Vice President & Corporate Counsel; Assistant Secretary across PGIM Alternatives, PGIM Retail Funds, Prudential Annuities Funds | Nov 2020–Present; Assistant Secretary since Mar 2022 (Fund officer since Sep 2022) | Provides legal and corporate secretary support across multiple PGIM fund complexes, including PGIM Private Credit Fund |
| Allianz Global Investors U.S. Holdings LLC | Director & Senior Counsel; Assistant Secretary for numerous Allianz funds | 2010–2020; Assistant Secretary 2015–2020 | Senior legal counsel and governance responsibilities across Allianz fund complex |
External Roles
No public company board directorships or external roles are disclosed for Debra Rubano in the Fund’s proxy materials .
Fixed Compensation
Pursuant to the management agreement, PGIM Investments (the Manager) pays all compensation and expenses of Fund officers; the Fund does not disclose base salary, bonus, or equity grants for officers (including Assistant Secretaries) and has no compensation committee because officers receive no direct compensation from the Fund .
| Item | Disclosure |
|---|---|
| Base Salary | Not disclosed; Fund officers are paid by the Manager, not the Fund |
| Target Bonus % / Actual Bonus | Not disclosed; paid by the Manager, not the Fund |
| Equity/Option Awards | Not disclosed at Fund level; officers receive no direct compensation from the Fund |
| Perquisites | Not disclosed |
Performance Compensation
The Fund does not disclose officer performance metrics, incentive structures, or vesting schedules for Fund officers (including Assistant Secretaries) because all compensation is borne by the Manager and not paid directly by the Fund; accordingly no PSU/RSU/option metrics, targets, or payouts are provided in Fund filings .
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed | — | — | — | — | — |
Equity Ownership & Alignment
| Metric | Jun 30, 2024 | Jun 30, 2025 |
|---|---|---|
| Beneficial shares owned (direct/indirect) | — (none) | — (none) |
| Ownership % of outstanding shares | — | — |
- Stock ownership guidelines and compliance status: Not disclosed for Fund officers .
- Pledging/hedging: All purchases/sales of Fund securities by trustees, officers, and employees require pre‑clearance from the Chief Compliance Officer, and covered persons are prohibited from using shorting, options, or derivatives on Fund securities; however, a separate section notes the Code of Ethics does not expressly prohibit hedging transactions by Board Members or officers, creating apparent ambiguity that is overseen via compliance .
- Insider selling pressure: No holdings reported for Debra Rubano; therefore no Form 4 activity is indicated in Fund proxy tables .
Employment Terms
| Term | Details |
|---|---|
| Fund Officer Role | Assistant Secretary (Fund officer since September 2022) |
| Employment Start (Prudential) | Vice President & Corporate Counsel since November 2020 |
| Contract Term / Expiration | Not disclosed at Fund level |
| Severance / Change-of-Control | Not disclosed at Fund level; no compensation committee due to no direct officer comp from Fund |
| Clawback Provisions | Not specifically disclosed; Code of Ethics governs personal trading and pre‑clearance |
| Non‑compete / Non‑solicit / Garden Leave | Not disclosed |
Investment Implications
- Compensation alignment: As a legal officer (Assistant Secretary) whose compensation is paid by the Manager and not the Fund, there is no disclosed pay‑for‑performance linkage or equity incentives at the Fund level; this limits direct alignment signals for equity analysts assessing Fund officer incentives .
- Ownership and selling pressure: With no Fund share ownership reported for Rubano, there is no near‑term insider selling pressure or pledging risk attributable to her; alignment via personal holdings is neutral/absent .
- Retention risk: Tenure since September 2022 and deep prior fund‑complex experience at Allianz suggest institutional continuity in legal/governance functions; absence of disclosed severance or CoC terms at the Fund level is typical for officers paid by the Manager and provides limited insight into retention economics .
- Trading signals: Her role and lack of Fund share ownership provide minimal direct trading signals. More relevant performance indicators for investors remain Fund‑level metrics (NAV, distributions, debt leverage), which are independent of officer compensation structures and are managed through PGIM’s investment units .