This is from the PGIM website:
"PGIM Private Capital Direct Lending focuses on providing senior secured loans. These loans benefit from liquidation preference, contractual debt repayment, full covenants, and terms protections. Key tenants of our strategy include:
Focus on the middle market ($10-100mm of EBITDA)
Industry generalist approach Geographic focus on North America, Western Europe and Australia
Non-sponsored and sponsored portfolio mix
Typical senior leverage in the 2.5x-4.5x range
Sole, Lead, or Co-Lead on 89% of deals since inception"
It seems 'senior leverage' refers to a company's ability to service its debt, measured by earnings, typically EBITDA or ebit. DYOR
This is from the PGIM website:"PGIM Private Capital Direct...
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