Principal Financial Group Inc · NASDAQ:PFG
Principal Financial — Principal Alternative Credit — Investor Presentation (October 2026)
18 slides from Principal Financial's investor presentation, October 2026
Slide 1: Principal Alternative Credit Middle Market Direct Lending
Principal Alternative Credit Middle Market Direct Lending Principal Direct Lending has closed on over $5.1 billion in commitments since its launch in mid 2020, demonstrating its commitment to middle market private credit. Add -on Acquisition M&A Financing M&A Financing M&A Financing Documentation Ag
Slide 2: Principal Alternative Credit Middle Market Direct Lending
Principal Alternative Credit Middle Market Direct Lending Facility Upsize Add -on Acquisition Refinancing M&A Financing Joint Lead Arranger Joint Lead Arranger Sole Lender Participant July 2026 July 2026 July 2026 June 2026 Leveraged Buyout Add -On Acquisition Leveraged Buyout Add -on Acquisition So
Slide 3: Principal Alternative Credit Middle Market Direct Lending
Principal Alternative Credit Middle Market Direct Lending Facility Upsize Refinancing Refinancing Refinancing Documentation Agent Documentation Agent Sole Lender Joint Lead Lender March 2026 March 2026 March 2026 March 2026 Add -on Acquisition Leveraged Buyout Refinancing Add -on Acquisition Sole Le
Slide 4: Principal Alternative Credit Middle Market Direct Lending
Principal Alternative Credit Middle Market Direct Lending Facility Upsize Leveraged Buyout Add -on Acquisition Facility Upsize Sole Lead Arranger Documentation Agent Joint Lead Arranger Documentation Agent November 2025 November 2025 October 2025 October 2025 M&A Financing Leveraged Buyout Refinanci
Slide 5: Principal Alternative Credit Middle Market Direct Lending
Principal Alternative Credit Middle Market Direct Lending Undisclosed Facility Upsize Leveraged Buyout Senior Credit Facility Leveraged Buyout Sole Lender Sole Lender Joint Lead Arranger July 2025 July 2025 June 2025 May 2025 Add -on Acquisition Dividend Recapitalization Add -on Acquisition Leverage
Slide 6: Principal Alternative Credit Middle Market Direct Lending
Principal Alternative Credit Middle Market Direct Lending Acquisition Financing Add -on Acquisition M&A Financing Leveraged Buyout Sole Lender Documentation Agent Sole Lender December 2024 December 2024 January 2025 December 2024 Add -on Acquisition Leveraged Buyout Add -on Acquisition Add -on Acqui
Slide 7: Principal Alternative Credit Middle Market Direct Lending
Principal Alternative Credit Middle Market Direct Lending Facility Upsize Add -on Acquisition Add -on Acquisition Add -on Acquisition Documentation Agent Documentation Agent Joint Lead Arranger August 2024 August 2024 August 2024 July 2024 M&A Financing Add -on Acquisition Refinance Amendment Sole L
Slide 8: Principal Alternative Credit Middle Market Direct Lending
Principal Alternative Credit Middle Market Direct Lending Amendment Add -on Acquisition Senior Credit Facility Senior Credit Facility Documentation Agent Documentation Agent Documentation Agent Administrative Agent April 2024 April 2024 April 2024 April 2024 Add -on Acquisition Senior Credit Facilit
Slide 9: Principal Alternative Credit Middle Market Direct Lending
Principal Alternative Credit Middle Market Direct Lending Amendment M&A Financing Add -on Financing Leverage Buyout Joint Lead Arranger Joint Lead Arranger Documentation Agent November 2023 November 2023 November 2023 October 2023 Facility Upsize Leverage Buyout Add -on Acquisition Add -on Acquisiti
Slide 10: Principal Alternative Credit Middle Market Direct Lending
Principal Alternative Credit Middle Market Direct Lending Refinance Add -on Acquisition Leveraged Buyout Add -on Acquisition Sole Lead Arranger Joint Lead Arranger Joint Lead Arranger Sole Lead Arranger July 2023 July 2023 June 2023 May 2023 Add -on Acquisition Leveraged Buyout Strategic Acquisition
Slide 11: Principal Alternative Credit Middle Market Direct Lending
Principal Alternative Credit Middle Market Direct Lending Add -on Acquisition Acquisition Financing Acquisition Financing Add -on Acquisition Administrative Agent Joint Lead Arranger Joint Lead Arranger January 2023 December 2022 January 2023 December 2022 Refinance Leveraged Buyout Add -on Acquisit
Slide 12: Principal Alternative Credit Middle Market Direct Lending
Principal Alternative Credit Middle Market Direct Lending Add -on Acquisition Leveraged Buyout Acquisition Finance Leveraged Buyout Administrative Agent September 2022 September 2022 August 2022 August 2022 PVI Holdings, Inc. Leveraged Buyout Majority Investment Refinance Leveraged Buyout Sole Lead
Slide 13: Principal Alternative Credit Middle Market Direct Lending
Principal Alternative Credit Middle Market Direct Lending Leveraged Buyout Leveraged Buyout Leveraged Buyout Add -on Acquisition Joint Lead Arranger Joint Lead Arranger June 2022 June 2022 May 2022 June 2022 Add -on Acquisition Leveraged Buyout Recapitalization Add -on Acquisition Joint Lead Arrange
Slide 14: Principal Alternative Credit Middle Market Direct Lending
Principal Alternative Credit Middle Market Direct Lending Leveraged Buyout Add -on Acquisition Add -on Acquisition Leveraged Buyout December 2021 December 2021 December 2021 December 2021 Leveraged Buyout Add -on Acquisition Refinancing Add -on Acquisition Joint Lead Arranger Documentation Agent Dec
Slide 15: Principal Alternative Credit Middle Market Direct Lending
Principal Alternative Credit Middle Market Direct Lending Acquisition Financing Leveraged Buyout Leveraged Buyout Recapitalization Joint Lead Arranger Documentation Agent Joint Lead Arranger September 2021 August 2021 August 2021 July 2021 Recapitalization Add -on Acquisition Add -on Financing Recap
Slide 16: Principal Alternative Credit Middle Market Direct Lending
Principal Alternative Credit Middle Market Direct Lending Add -on Acquisition Leveraged Buyout Add -on Acquisition Add -on Acquisition Documentation Agent April 2021 March 2021 January 2021 April 2021 c c Add -on Acquisition Leveraged Buyout Recapitalization Add -on Acquisition October 2020 October
Slide 17: Principal Alternative Credit Middle Market Direct Lending
Principal Alternative Credit Middle Market Direct Lending Add -on Acquisition Leveraged Buyout Add -on Acquisition Add -on Acquisition Documentation Agent April 2021 March 2021 January 2021 April 2021 c c Add -on Acquisition Leveraged Buyout Recapitalization Add -on Acquisition October 2020 October
Slide 18: For financial professional/institutional use only
For financial professional/institutional use only in the U.S. May not be used with the public. Investment criteria/guidelines are subject to change. Investing involves risk, including possible loss of principal. Investme nts in private debt, including leveraged loans, middle market loans, and mezzan
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