PGIM, LGT Capital Partners co-lead $680 million Tree Line private credit continuation vehicle
PRU•PGIM and LGT Capital Partners co-led a $680 million continuation vehicle managed by Tree Line, which acquired a portfolio of loans to more than 60 U.S. lower-middle-market companies.
1. Portfolio transaction
PGIM and LGT Capital Partners announced on October 28, 2026, that they co-led a $680 million continuation vehicle managed by Tree Line. The vehicle acquired a portfolio primarily comprising senior secured, first-lien loans to more than 60 U.S. lower-middle-market companies.
2. Investor liquidity option
The transaction gives existing fund investors a liquidity option while allowing Tree Line to continue managing the private credit portfolio. It supports plans to deploy up to $1 billion into private credit secondaries over two years.
