PNC Financial (PNC), TCW Partner for Private Credit Platform [Yahoo! Finance]
PNC Financial Services Group, Inc. (The) (PNC)
Last pnc financial services group, inc. (the) earnings: 4/15 06:41 am
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Source: Yahoo! Finance
The partnership will oversee the new strategy's every investment activity, including origination, underwriting, and portfolio management. It will primarily focus on directly originated, senior secured asset, and cash-flow-based loans to sponsored and non-sponsored middle market companies. In its first year, the private credit platform is aiming for $2.5 billion in investor equity capital available for investment. This will be backed by anchor investments from Nippon Life, TCW's strategic partner and shareholder, and PNC. Investment activity is expected to start later this year. The partnership will leverage both companies' credit expertise by combining TCW's 23-year record of originating, underwriting and managing direct lending portfolios, and PNC's national client relationships and its leading middle-market lending franchise. It will help the companies gain a significant share of the expanding private credit market. Per TCW management, "We are thrilled to partner with PNC to
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- PNC Executives To Speak At Bernstein ConferencePR Newswire
PNC
Earnings
- 4/16/24 - Beat
PNC
Sec Filings
- 5/14/24 - Form 8-K
- 5/10/24 - Form 13F-HR
- 5/9/24 - Form 424B2
- PNC's page on the SEC website