PGIM

AI, national security, and supply chain resilience are becoming increasingly interconnected. As nations race to secure critical technologies and strengthen supply chains, investors should consider how an evolving policy landscape may impact portfolios. Tune in to the latest episode of The Outthinking Investor, where Daleep Singh and Mike Schmidt, former Director of the U.S. CHIPS Program Office, explore the opportunities and challenges emerging from the global race for technological superiority. Listen now: https://on.pru/45pjmpr

Last month, PGIM thought leaders Michael McRoberts, Head of Agency Lending; Lee Menifee, Head of Americas Research, Real Estate; and James Sonne, Head of Government Affairs, came together to discuss the forces shaping today's multifamily market. The conversation explored where the recovery is gaining momentum, where divergence across markets is widening, and what it all means for owners navigating financing, operating, and buy-sell decisions.   Missed it live? Watch the replay here: https://on.pru/3TMXbag

Marking three years of the PGIM AAA CLO ETF. In just three years, PAAA has established itself as a standout in the AAA CLO ETF space, earning the distinction of being the only gold-rated CLO ETF in the category while also offering investors a low expense ratio among AAA CLO ETFs. Three years in. Still setting the standard. https://on.pru/4pwtkOU

Direct lending is entering a new phase. As the market broadens beyond traditional sponsor-backed channels, access to differentiated opportunities is becoming increasingly important. For investors, this means looking beyond headline yield and assessing origination, underwriting discipline and portfolio fit. Learn more: https://on.pru/4xkfPoc

Investing in the next generation starts with creating opportunity. Through the 2026 PGIM Inspire Work Experience Programme, we welcomed 50 Years 12 and 13 students to our London office for four days of learning, collaboration and professional development. Participants explored careers in asset management through interactive workshops, discussions with PGIM professionals and senior leaders, and a hands-on investment challenge that culminated in pitching a £1 billion investment strategy. By bringing together students from diverse socio-economic backgrounds, the programme helps broaden awareness of careers in financial services and provides valuable exposure to the industry. We are grateful to our partners at The Catalyst Education Programme and Preston Manor School, as well as AmplifyME, Bill Britten, our PGIM Inspire alumni, and the many PGIM colleagues who volunteered their time and expertise to make this experience possible. Thank you to everyone who contributed to this year's programme. We look forward to welcoming the next cohort of emerging talent in 2027.

The future of real assets extends beyond buildings and infrastructure as emerging trends in data, technology, sustainability, and innovation continue to influence investment outcomes. Explore PGIM's RealAssetX Unpacked, a series of short videos examining how our platform brings together research, innovation, and real-world validation to explore the opportunities and challenges shaping the future of real asset investing. Watch the full series: https://on.pru/4wIZfic

In a world where macro regimes can abruptly switch, point forecasting is becoming obsolete. Our scenario-based approach aims to turn regime change into a source of alpha rather than vulnerability. Read our latest post: https://on.pru/4x8F0Kt

Today, PGIM announced it has agreed to acquire the remaining interest in Deerpath Capital. The acquisition is expected to strengthen PGIM's comprehensive direct lending platform by combining Deerpath Capital's lower middle market expertise with PGIM's existing core middle market and large cap capabilities. Full ownership is expected to enhance sponsor coverage and coordination while supporting more tailored direct lending solutions across borrower size segments and cohesive investor distribution and client service. We're excited for the next chapter with the Deerpath Capital team and look forward to serving sponsors, borrowers and investors across the direct lending spectrum together. Learn more: https://on.pru/4wsEA1F

Our new Conviction in Action series explores how PGIM’s high-conviction themes shape our real estate investments. In this first edition, we examine the forces reshaping the global living sector and how local expertise and disciplined execution create investment opportunities. Read our roundtable discussion and watch investment spotlights on housing solutions across global markets. https://on.pru/3RvJUBX