PGIM Inks $3B Forward-Flow Deal with GreenSky
PRU sits 32% above its 52-week low of $91.89 on light trading volume (0.2× avg).
Summary
PGIM, Prudential's asset management arm, has committed to a three-year forward-flow facility with GreenSky, with forecasted total purchase volume of about $3 billion. This is a new partnership that expands PGIM's private credit footprint into consumer lending assets. The deal follows PGIM's recent acquisition of the remaining stake in Deerpath Capital, signaling continued expansion in alternative credit. The $3 billion commitment is material relative to PGIM's $1.49 trillion AUM but represents a meaningful new origination channel. Watch for further details on pricing and credit quality of the underlying loans.
At the time of this announcement, PRU was trading at $121.70 on NYSE in the Finance sector, with a market capitalization of approximately $42B. The 52-week trading range was $91.89 to $127.72. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.