Robert W. McCormack
About Robert W. McCormack
Robert W. McCormack (year of birth: 1973) serves as Assistant Treasurer of the PGIM Private Credit Fund and other PGIM Investments-managed funds; he has been a Vice President within PGIM Investments Fund Administration since 2019 and an Assistant Treasurer across PGIM Alternatives (since March 2022) and PGIM Retail & Prudential Annuities funds (since March 2023), with service as a Fund Officer since September 2022 . His prior roles include Vice President within Goldman Sachs Investment Management Controllers (2008–2016) and Assistant Treasurer of the Goldman Sachs Family of Funds (2015–2016) . McCormack is listed among Executive Officers Who are Not Trustees, reinforcing his operational role rather than governance oversight . Education is not disclosed in Fund filings; external profiles indicate Montclair State University and confirm his Vice President role at PGIM Investments .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| PGIM Investments | Vice President, Fund Administration | 2019–Present | Oversees fund administration across PGIM Retail, Annuities, and Alternatives complexes . |
| PGIM Alternatives Funds | Assistant Treasurer | Since Mar 2022 | Fund officer responsibilities supporting alternatives vehicles . |
| PGIM Retail & Prudential Annuities Funds | Assistant Treasurer | Since Mar 2023 | Fund officer responsibilities for retail and annuity fund complexes . |
| Goldman Sachs | Vice President, IM Controllers | 2008–2016 | Financial and operational control across fund types; complex instrument expertise . |
| Goldman Sachs Family of Funds | Assistant Treasurer | 2015–2016 | Fund treasury and controls for 1940 Act vehicles . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Prudential Financial – PGIM Investments | Vice President | 2017–Present | Confirms senior operating role at PGIM Investments . |
| Citigroup Asset Management | Senior Financial Analyst – Fund Administration | 2005 | NAV oversight and financial reporting for mutual funds (external profile) . |
| Morgan Stanley Investment Management | Manager – Financial Control Group | 2004–2005 | Transfer agency and financial controls (external profile) . |
Fixed Compensation
- Officer pay is not disclosed by the Fund; under the Management Agreement, the Manager (PGIM Investments) pays all compensation and expenses of officers and employees of the Fund .
- The Fund does not have a compensation committee because executive officers do not receive direct compensation from the Fund .
Performance Compensation
- No disclosure of individual officer performance metrics, incentive weights, or payout curves for McCormack; officer compensation is paid by the Manager and not reported by the Fund .
Equity Ownership & Alignment
| Holder | Type of Ownership | Shares | % of Shares Outstanding |
|---|---|---|---|
| Robert W. McCormack | — | None | — |
| All officers & Trustees (18 persons) | Direct (group) | 23,907.225 | <1% (group) |
| Record date and shares outstanding | — | 6,593,650.505 (Common Shares) | — (reference for denominator) |
- Pledging: No pledging disclosures specific to McCormack; not reported in the proxy .
- Trading/hedging policy: Covered persons are prohibited from using shorting, options, or hedging or derivatives on the Fund’s securities and require pre-clearance for all transactions . The Code also states hedging transactions are not expressly prohibited for Board Members or officers with respect to Fund securities, creating ambiguity that should be monitored for policy interpretation and enforcement .
Employment Terms
- Role start dates: Assistant Treasurer (PGIM Alternatives since March 2022; PGIM Retail & Prudential Annuities since March 2023); Vice President at PGIM Investments since 2019; service as Fund Officer since September 2022 .
- Contract specifics: No individual employment contracts, severance, change-of-control terms, non-compete/non-solicit provisions, or clawback details are disclosed for McCormack in Fund filings .
- Governance context: McCormack is an officer (not a Trustee); the Board meets regularly and operates through Audit and Nominating/Governance Committees; no compensation committee exists because officer pay is not a Fund expense .
Investment Implications
- Alignment: McCormack holds no Fund shares as of June 30, 2025, indicating limited direct economic alignment at the Fund level; however, officer pay and equity-like incentives, if any, would reside at the PGIM Investments/Prudential parent level and are not disclosed in Fund materials .
- Selling pressure: With no reported Fund share ownership, near-term insider selling pressure from McCormack is negligible at the Fund level; monitor for any future beneficial ownership disclosures or policy changes .
- Pay-for-performance: Absence of officer compensation disclosure and the Fund’s structure (Manager-funded officer pay, fee waivers through Dec 31, 2025) suggests limited shareholder visibility into individual performance incentives; focus on Manager fee dynamics, waivers, and Fund performance drivers instead .
- Retention risk: Tenure across PGIM fund complexes (VP since 2019; Assistant Treasurer roles since 2022–2023) and prior Goldman Sachs experience indicate deep institutional fund administration expertise; without disclosed employment agreements, retention assessments must rely on organizational stability and role breadth rather than contract economics .
Note: Many executive-specific compensation and contract details (base salary, bonus targets/payouts, RSUs/PSUs/options, severance/change-of-control, ownership guidelines) are not disclosed by the Fund because officers are compensated by PGIM Investments under the Management Agreement. Investors should seek Prudential/PGIM corporate-level disclosures for any parent-level incentives governing McCormack’s compensation structure .