Speaking of Alternatives …Let's Talk Highlights from the PGIM EMEA Investor Forum
8 snips
Dec 17, 2025 
In this enlightening discussion, CIOs Matthew Yates, John Dewey, and Christophe Bianchette share pivotal insights from the PGIM EMEA Investor Forum. They dive into how private credit has shifted from niche to core in portfolios, emphasizing the impact of AI on digital infrastructure. The panelists discuss the crucial role of securitization in driving European growth and the importance of rethinking resilience against systemic risks. They also explore the challenges posed by semi-liquid structures and the balance between liquidity and returns.
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Private Credit Is Now Core
- Private credit has moved from a niche allocation to a core pillar in institutional portfolios.
- Liquidity choice should be driven by each investor's marginal illiquidity and constraints.
Use Structures And Secondaries To Manage Liquidity
- Manage illiquidity by using structuring and secondary markets to access liquidity and manage vintage or manager risk.
- Use borrowing and tailored account structuring when close to liquidity edges.
Yield Numbers Hide Critical Assumptions
- Indicative yield numbers hide many assumptions like cash flows, hedging, and option adjustments.
- Treat private market ratings and valuations with caution and prioritise manager transparency.