Patrick E. McGuinness

About Patrick E. McGuinness

Patrick E. McGuinness (year of birth: 1986) serves as Assistant Secretary of PGIM Private Credit Fund and other PGIM fund complexes. He has been Director and Corporate Counsel at Prudential since February 2017 and Vice President and Assistant Secretary at PGIM Investments LLC since August 2020; he has served as Assistant Secretary of the PGIM Alternatives Funds since March 2022, and of the PGIM Retail and Prudential Annuities Funds since June 2020; his service as a Fund officer dates from September 2022 . Education and performance metrics (TSR, revenue/EBITDA growth) are not disclosed in the Fund’s proxy statements.

Past Roles

External Roles

No external directorships or other external roles are disclosed for Patrick E. McGuinness in the Fund’s proxy statements .

Fixed Compensation

• Officers of the Fund do not receive direct compensation from PGIM Private Credit Fund; compensation and expenses of officers are paid by PGIM Investments under the Management Agreement .
• The Fund does not have a compensation committee because executive officers do not receive direct compensation from the Fund .

Performance Compensation

• Performance-based compensation details (bonus targets/payouts, RSUs/PSUs/options, performance metrics, vesting schedules) are not disclosed by the Fund; officer compensation is paid by PGIM Investments and not reported in the Fund’s proxy .

Equity Ownership & Alignment

• Beneficial ownership and alignment (as disclosed by the Fund):

• Trading and alignment policies:
  • Covered persons (officers, trustees, employees of the Fund/adviser) are prohibited from shorting, using options, or hedging/derivatives on the Fund’s securities; all transactions require pre-clearance by the Chief Compliance Officer .
  • The proxy also notes the Fund’s Code of Ethics does not expressly prohibit Board Members or officers from engaging in hedging transactions, creating an apparent inconsistency that should be resolved by reviewing the Code of Ethics filed in the Fund’s SEC registration exhibits .
• Pledging: No pledging policy or pledged shares disclosures for officers are provided in the proxy .
• Insider selling/pressure: No Form 4 or insider transaction data are disclosed in the proxy materials; no insider sales by Patrick E. McGuinness are listed .

Employment Terms

• Fund officer service start date: Since September 2022 (Assistant Secretary) .
• Contract terms, severance, and change-of-control economics: Not disclosed for officers; the Fund states officer compensation/expenses are paid by PGIM Investments, and officers receive no compensation from the Fund (implying employment terms would be governed by Prudential/PGIM corporate documents, not Fund-level filings) .
• Non-compete/non-solicit: Not disclosed in proxy statements .
• Clawback/tax gross-ups: Not disclosed in proxy statements .
• Trading/COE: Personal transactions require pre-clearance; certain transactions are restricted under the Code of Ethics .

Investment Implications

• Alignment: McGuinness holds no disclosed Fund shares, limiting direct equity alignment with PGIM Private Credit Fund; however, COE restrictions (pre-clearance, no shorting/options/hedging as stated) reduce misalignment risk from trading strategies .
• Compensation linkage: With all officer compensation paid by PGIM Investments and no Fund-level reporting, pay-for-performance visibility at the Fund is low; trading signals driven by insider sales/vest expirations are likely muted given no disclosed holdings .
• Retention risk: Employment agreements, severance, and change-of-control terms are not disclosed by the Fund; retention analysis requires Prudential/PGIM corporate disclosures beyond Fund proxies .
• Governance context: The Fund lacks a compensation committee (officers not paid by the Fund), and executive oversight relies on risk, audit, and nominating committees; board governance is active, but executive pay governance is outside Fund scope, reducing proxy-driven levers for investor influence on officer compensation .