PRIVEST

PRIVEST is an Insurance Company Separate Account organized under a group annuity contract. It is a commingled vehicle that has been in existence since 1976 and invests in investment grade private placements. PRIVEST is only available for investment by qualified U.S. pension plans.

Benchmark: Barclays U.S. Aggregate Index

 

Strategy

  • Investment Grade purchases, co-invests with Prudential's General Account
  • Focus on U.S. traditional private placements to middle-market issuers, with up to 25% of the portfolio invested in non-U.S. issuers
  • A- / BBB+ average quality at origination
  • Industrial concentration, low finance exposure
  • Diversification within sectors relative to the Barclays U.S. Credit Index
  • Emphasize individual issuer diversification (target holding size $3 to $40 million)
  • Duration neutral to the benchmark
  • Highly focused credit culture


Terms

  • Open-ended commingled strategy
  • Open to monthly withdrawals, contributions
  • Maintains a targeted 3% in cash / liquid securities for redemptions

 

Single Investor Accounts and Non-USD options also available.