Pearl Diver Credit Company: Shares Are A 'Maybe,' Preferreds Are A 'Yes'

2025-11-14 10:30:00 ET

Introduction

While I find the CLO market interesting, when it comes to CLO equity vehicles, I prefer to stick with securities that are somewhat higher up in the capital stack. Pearl Diver Credit Company ( PDCC ) focuses on CLO equity investments , but I’m mainly interested in the company’s preferred shares that have a mandatory redemption date. On top of that, those preferred securities are the only securities that rank above the common equity, which adds an additional layer of safety in case things go wrong on the CLO equity markets. ...

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