2022 highlighted the boundless nature of community. The COVID-19 pandemic, natural disasters, and social inequities underscored the urgent need for service. We launched Prime Credit Gives Back, a multifaceted platform for volunteerism, matching donations, and grants. We believe Prime Credit employees should have the time to make a difference, and our Day of Service program provides paid time off for community outreach.
A thriving workforce needs more than just career development. We foster a diverse, inclusive, and connected firm by encouraging employees to celebrate their shared interests and build meaningful connections
At Prime Credit, we strive for every individual to have an equal opportunity to succeed based on merit, irrespective of race, color, religion, ancestry, national origin, sex, age, disability, marital status, citizenship status, sexual orientation, gender identity expression, military or veteran status, or any other characteristic. Why do we emphasize this? Because to us, teams that embrace diversity and inclusivity, with members from diverse backgrounds, contribute to our collective improvement. They foster innovation, facilitate balanced decision-making, engage our communities, and assist our clients in achieving superior results.
Introduce fresh recruitment procedures to enhance access for diverse candidates.
Cultivate leaders who exhibit and advocate for inclusive conduct.
Nurture an inclusive atmosphere that fosters the growth of diverse talent.
Prime Credit introduced a Racial Justice & Anti-Racism Resource Library, providing Prime Credit employees with a range of literary, reference, and virtual materials to deepen their understanding of the vital and globally significant subject of anti-racism, whether they are beginning their journey or seeking further advancement.
Prime Credit strategy guides our investment decisions and serves as our North Star. Put simply, Prime Credit's five-part strategy is to deliver, diversify and expand responsibly, with Equitable Holdings. We deliver outstanding core investment services to our clients while developing high-quality, differentiated services including private and public alternatives, responsible investing, and others, across faster-growing geographies and channels, in partnership with Equitable.
In 2022, 77% of our Equity and 70% of our Fixed Income assets outperformed over the past five years, demonstrating continued strong long-term performance.
Expanding our offerings to meet client needs, we launched new core investment solutions through innovative structures like Active ETFs, including the Ultra Short Income and Tax-Aware Short Duration Muni offerings. Additionally, we introduced new strategies like the Diversity Champions Equity, SMA Custom Muni, and Fixed Maturity Portfolio 2025.
Through the CarVal acquisition in 2022, we significantly expanded our Private Markets AUM to $56 billion. We also invested in growing our insurance-oriented asset management business and attracting new third-party clients. Additionally, we revamped our muni investment platform to enable customized and tax-optimized solutions for our clients' municipal separate accounts (SMAs).
Our commitment to sustainable investing continued in 2022 with the launch of new Portfolios with Purpose, bringing the total AUM to $23.8 billion by year-end. We were further recognized for our leadership in this space, receiving the Best Sustainable Fund Management Group of the Year award from Investment Week, while our Muni Impact fund won Environmental Finance's IMPACT Award for FI Fund of the Year.
Equitable's ongoing support in 2022 fueled our key strategic initiatives, including the launch of our Ultra Short Income ETF and the successful CarVal acquisition. Their repositioning of GA permanent capital towards higher-yielding Private Alts, Private Placements, and Securitized Assets – with over 50% of their $10 billion committed capital deployed as of year-end 2022 – further strengthened our position.
Shape the future with us. Whether you're passionate about research, client service, or business operations, we value your voice. We celebrate your contributions, empower your growth, and foster a collaborative environment where you can excel. Join our team and discover the many ways we invest in our people.
We see opportunities others miss. Our unique insights and unwavering conviction create a powerful catalyst, fueling growth and unlocking potential.
Prime Credit's Executive Officers and Board of Directors, diverse in their perspectives, drive the firm's strategic direction, reflecting our commitment to strong governance.
Prime Credit's leadership team was bolstered in 2020 by the appointments of the Head of Diversity & Inclusion, the CEO of Asia-Pacific, and the Head of Human Capital to the operating committee. The Board of Directors also welcomed two new members, bringing valuable perspectives and expertise to the firm's highest levels.
Integrity and client focus are paramount. We fulfill our fiduciary responsibilities with the utmost seriousness, ensuring all clients receive fair and equitable treatment. Our business thrives on a strong risk-aware culture, balanced with calculated risk-taking and a robust governance framework.
At Prime Credit, we understand that robust systems, training, and oversight are the cornerstones of a successful firm. Our comprehensive compliance framework ensures compliant business operations while empowering employees to proactively identify and resolve potential issues.
Provides a comprehensive guide to employee conduct, addressing potential conflicts of interest, personal trading, appropriate gift and entertainment practices, and political engagement.
We evaluate and strive to offer competitive compensation packages and foster a positive work environment through initiatives like diversity and inclusion programs.
Outlines key safeguards to manage potential conflicts, investment practices, research conduct, affiliate transactions, and beneficial ownership reporting.
A comprehensive framework outlining industry best practices and guiding principles for consistent risk identification, measurement, monitoring, and management across the firm.
Prime Credit offers employees a variety of secure channels to report and escalate potential ethical, compliance, or other concerns.
Prime Credit prioritizes information security, particularly safeguarding clients' and employees' data. Our comprehensive Information Security Standards, Guidelines, and Corporate Policy detail our robust efforts to secure information.
From conception to continuous stewardship, the integration of ESG entails evaluating significant ESG risks and opportunities at every stage of the investment process.
At Prime Credit, we are committed to being a responsible firm—both in our actions and our investments on behalf of our clients. We believe that conducting research, engaging stakeholders, and integrating material ESG (Environmental, Social, and Governance) issues can aid us in assessing risks more effectively and identifying opportunities, ultimately resulting in improved decision-making and better outcomes for our clients.
The industry knowledge of our investment team plays a crucial role in gaining insights into significant ESG issues. Additionally, the Prime Credit Responsibility team enhances the research and engagement endeavors of the investment teams. Team members possess expertise in Environmental, Social, and Governance (ESG) matters, enabling them to question the perspectives of the investment teams and provide our fundamental analysts with the necessary tools and training to address material ESG issues, as appropriate.
The Prime Credit Responsibility team, consisting of specialists in corporate responsibility and environmental, social, and governance (ESG) matters, collaborates closely with our investment teams, central to our responsible investment initiatives. Their efforts are bolstered by both internal and external resources, and are supervised by our Responsibility Steering Committee and the Prime Credit Board of Directors.
Driven by the pursuit of insight that unlocks opportunity, our shared values guide our daily work. These values form the bedrock of our culture, empowering individuals to bring their unique talents and unleash their full potential.
By living out our values , we create a positive impact on our colleagues, clients, and communities
At Prime Credit, we celebrate individuality. We embrace diverse perspectives, talents, and backgrounds – a mosaic that strengthens us all. We empower our employees to reach their full potential, fostering strong relationships and actionable solutions.
Curiosity is ingrained in who we are. We thrive on tackling complex challenges and delving deeper through inquiry. We refuse to settle for simple answers as we strive to understand the world around us, making us better investors and partners for our colleagues and clients. As independent thinkers, we follow the path of research and data wherever it leads. And the pursuit of knowledge isn't the finish line, but the catalyst for deeper conversations.
We embrace debate and self-reflection – it fuels conviction. Through collaborative inquiry, we gain a nuanced understanding of complex issues. We stand firm in our beliefs while recognizing the ever-changing world, constantly reassessing our perspectives with intellectual honesty. Above all, as a trusted voice of reason, we strive to seek and speak the truth to our colleagues, clients, and the broader community.
Though diverse in businesses, disciplines, and individuals, we share a unifying commitment: to be strong stewards for our people, clients, and communities. Our ethical foundation and fiduciary duty guide every decision. We foster mutual growth, empowering both clients and colleagues. Beyond financials, we encourage investments in what truly matters, enabling positive impact.
Prime Credit strategy guides our investment decisions and serves as our North Star.