Dino Capasso
About Dino Capasso
Dino Capasso (year of birth: 1974) serves as Chief Compliance Officer (CCO) of the PGIM Private Credit Fund and broader PGIM fund complexes, having rejoined PGIM in mid-2024 after serving as CCO at T. Rowe Price. He is Vice President of PGIM Investments LLC (since June 2024) and CCO of the PGIM Retail Funds, Prudential Annuities Funds, and PGIM Alternatives Funds (since July 2024) . As a fund officer (not a named executive of a public operating company), his individual cash/equity compensation is not disclosed in the fund’s proxy; the Manager (PGIM Investments) pays officer compensation, so the Fund does not report it . Because PGIM Private Credit Fund shares are not exchange-traded and use periodic tenders for liquidity, TSR-style metrics are not applicable; the Fund notes its shares are not traded in any market and repurchases occur via tenders at the Board’s discretion .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| PGIM Investments LLC | Vice President & Deputy Chief Compliance Officer | Jun 2017 – Sep 2019 | Senior compliance leadership across PGIM Investments/ASTIS fund complexes . |
| PGIM Investments LLC; PGIM Retail & Prudential Annuities Funds; PGIM Private Real Estate Fund, Inc. | Chief Compliance Officer | Jul 2019 – Apr 2022 | CCO across retail, annuities, and alternatives funds/fund company . |
| T. Rowe Price Associates, Inc.; T. Rowe Price Investment Management, Inc.; T. Rowe Price mutual fund complex | Chief Compliance Officer & Vice President | May 2022 – May 2024 | Led compliance for T. Rowe Price’s fund complex . |
| PGIM Investments LLC | Vice President | Since Jun 2024 | Returned to PGIM senior compliance post . |
| PGIM Retail Funds; Prudential Annuities Funds; PGIM Alternatives Funds | Chief Compliance Officer | Since Jul 2024 | Current CCO remit across multiple PGIM complexes . |
External Roles
- None disclosed in PGIM Private Credit Fund proxies/filings .
Fixed Compensation
The Fund explicitly states the Manager (PGIM Investments) pays all officer compensation; the Fund does not disclose officer pay. As such, base salary/bonus for Capasso are not disclosed in fund filings.
| Component | Disclosure Status |
|---|---|
| Base salary | Not disclosed; officer compensation is paid by the Manager, not the Fund . |
| Target bonus % | Not disclosed; officer compensation is paid by the Manager, not the Fund . |
| Actual annual bonus | Not disclosed; officer compensation is paid by the Manager, not the Fund . |
| Pension/SERP | Not disclosed in Fund filings . |
| Perquisites | Not disclosed in Fund filings . |
Performance Compensation
The Fund provides no individual officer incentive plan details (metrics, targets, payouts) because officers are compensated by the Manager. No PSUs/RSUs/options or performance metric weightings for Capasso are disclosed in Fund filings.
| Incentive Type | Metric(s) | Weighting | Target | Actual/Payout | Vesting |
|---|---|---|---|---|---|
| Annual cash incentive | Not disclosed in Fund filings | — | — | — | — . |
| Equity (RSUs/PSUs) | Not disclosed in Fund filings | — | — | — | — . |
| Options | Not disclosed in Fund filings | — | — | — | — . |
Equity Ownership & Alignment
| Metric | 2024 (as of Jun 30, 2024) | 2025 (as of Jun 30, 2025) |
|---|---|---|
| Beneficial ownership (Fund shares) | None reported for Capasso . | None reported for Capasso . |
| Ownership as % outstanding | — (not listed; table shows “—” for Capasso) . | — (not listed; table shows “—” for Capasso) . |
| Group ownership (all officers & trustees) | 21,178 shares; <1% as a group . | 23,907.225 shares; <1% as a group . |
Additional alignment/controls:
- Insider trading/hedging policy: Covered persons (other than Independent Trustees) are prohibited from using shorting, options, or hedging/derivatives on Fund securities; all purchases/sales by trustees, officers, and employees must be pre-cleared by the CCO .
- Pledging: No pledging disclosures identified in the Fund’s proxies for Capasso .
- Insider activity: In the latest tender cycle disclosure, the Fund noted no transactions by officers other than a redemption by Stuart Parker; Capasso had no reported transactions in the period referenced .
Employment Terms
| Term | Disclosure |
|---|---|
| Current title | Chief Compliance Officer, PGIM Private Credit Fund (Fund officer) . |
| PGIM Investments title | Vice President (since Jun 2024) . |
| CCO effective date (PGIM funds) | Since Jul 2024 . |
| Employment agreement term/expiration | Not disclosed in Fund filings; Fund has no compensation committee since executives are not paid by the Fund . |
| Severance / Change-of-control | Not disclosed in Fund filings . |
| Clawback provisions | Not disclosed for pay; Fund discusses Codes of Ethics and trading policies but no executive compensation clawback disclosure . |
| Non-compete / Non-solicit | Not disclosed in Fund filings . |
Investment Implications
- Alignment: Capasso holds no reported Fund shares, and the Fund provides no disclosure of equity or incentive compensation for officers because they are paid by the Manager—limiting visibility into pay-for-performance alignment at the Fund level .
- Selling pressure: No insider selling pressure observed from Capasso; latest tender offer disclosures show no Capasso transactions, and covered persons face pre-clearance and a prohibition on shorting/options/hedging of Fund securities .
- Retention risk: He rejoined PGIM in mid-2024 to assume CCO duties across multiple complexes, implying early-tenure dynamics; however, no contract, severance, or change-of-control economics are disclosed to quantify retention incentives .
- Trading signals: As a compliance executive with strict pre-clearance and hedging restrictions, his personal trading activity (if any) is unlikely to provide meaningful directional signals; none have been disclosed .
- Governance context: The Fund does not maintain a compensation committee because officers are not compensated by the Fund; oversight is primarily through the Board, Audit Committee, and compliance functions, with the Manager bearing officer costs .
References
- PGIM Private Credit Fund DEF 14A (2025): officer biographies, ownership, governance, compensation responsibility by Manager .
- PGIM Private Credit Fund DEF 14A (2024): officer biographies, ownership, governance, compensation responsibility by Manager .
- Schedule TO-I (Offer to Purchase/tender program): share non-trading status; recent insider activity summary .
- Additional PGIM fund documents corroborating officer roles/tenure: PGIM Global High Yield Fund DEF 14A (SEC) ; PGIM Credit Income Fund N-CSR ; PGIM Private Credit Fund 10-K PDF (Proxy-Direct) .