Stuart S. Parker
About Stuart S. Parker
Stuart S. Parker (born 1962) serves as President and Principal Executive Officer of PGIM Private Credit Fund since September 2022. He is President, Chief Executive Officer, and Officer in Charge of PGIM Investments LLC since January 2012; previously Chief Operating Officer of PGIM Investments (January 2012–January 2024), Executive Vice President of Jennison Associates LLC, and Head of Retail Distribution at PGIM Investments (June 2005–December 2011). He has served on the Investment Company Institute Board of Governors since May 2012. Tenure as Fund officer began in September 2022.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| PGIM Investments LLC | Chief Operating Officer | Jan 2012–Jan 2024 | Senior operating leadership for PGIM Investments platform |
| Jennison Associates LLC | Executive Vice President | Jun 2005–Dec 2011 | Senior leadership at affiliated asset manager |
| PGIM Investments LLC | Head of Retail Distribution | Jun 2005–Dec 2011 | Led retail distribution for PGIM Investments |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Investment Company Institute | Board of Governors | Since May 2012 | Industry policy and stewardship engagement |
Fixed Compensation
- Officers of PGIM Private Credit Fund do not receive compensation from PGIM Investments–managed funds; under the Management Agreement, the Manager pays all compensation and expenses of officers and employees of the Fund. No base salary, bonus, or perquisites are disclosed at the Fund level.
| Item | Fund-Level Disclosure |
|---|---|
| Base salary | Not disclosed (paid by Manager) |
| Target/actual bonus | Not disclosed (paid by Manager) |
| Perquisites | Not disclosed at Fund level |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed for Fund officers (compensation administered by Manager, not by Fund) | — | — | — | — | — |
Equity Ownership & Alignment
- Beneficial ownership is small relative to shares outstanding; Parker’s holdings are less than 1% in both 2024 and 2025.
- The Fund is majority-owned by Prudential affiliates (PICA/Pruco Life), shaping governance and alignment dynamics.
| Metric | Jun 30, 2024 | Jun 30, 2025 |
|---|---|---|
| Shares directly owned | 21,178 | 23,907.225 |
| Ownership % of shares outstanding | <1% | <1% |
| Shares pledged as collateral | Not disclosed | Not disclosed |
| Options/RSUs/PSUs outstanding | Not disclosed at Fund level | Not disclosed at Fund level |
| Major Shareholders | Jun 30, 2024 | Jun 30, 2025 |
|---|---|---|
| Prudential Insurance Company of America (PICA) | 4,562,225 shares; 99.9% | — |
| Pruco Life Insurance Company | — | 5,895,056.741 shares; 89.41% |
Employment Terms
| Term | Provision |
|---|---|
| Election of officers | Officers elected annually by the Board; president may appoint certain assistant officers |
| Removal | Any officer may be removed, with or without cause, by majority of the Board; removal without prejudice to contract rights, if any |
| Resignation | Officer may resign by written notice; effective upon receipt or at specified time |
| Vacancies | Board may fill officer vacancies for balance of term |
| Chief compliance officer | Designation/removal/compensation approved by Board including majority of Independent Trustees |
| Code of Ethics | Fund has adopted executive officer Code of Ethics; any amendment/waiver to be disclosed; insider trading policies in place |
| Related party transactions | Quarterly Board reviews; annual questionnaires; restrictions under Code of Ethics |
Investment Implications
- Pay-for-performance visibility at the Fund level is limited: the Manager (PGIM Investments) pays all officer compensation, so base salary, bonus, and incentive metrics for Parker are not disclosed in Fund proxies—reducing the ability to link Fund-level performance to executive pay. This opacity can constrain compensation alignment analysis for the Fund specifically.
- Ownership alignment is modest: Parker directly owns <1% of shares, and the Fund is predominantly controlled by Prudential affiliates (PICA/Pruco), concentrating governance. Minority shareholder influence is structurally limited; insider selling pressure appears low given small holdings and no pledge disclosure in Fund documents.
- Governance and retention: Officers are elected annually and can be removed with or without cause by the Board, implying managerial flexibility but also limited contractual retention protections disclosed at the Fund level. The presence of a Code of Ethics and formal related-party transaction oversight mitigates certain governance risks.