PGIM has expanded its presence in Germany, Austria and Switzerland (DACH) by appointing Robert Scheer as head of direct lending for the region.

The $1.5tn (£1.1tn) global asset manager said Scheer will be based in Frankfurt and be responsible for the firm’s sponsor-led direct lending activity. His role will span originating, structuring, negotiating and underwriting transactions.

Scheer’s appointment comes as PGIM’s direct lending platform now manages $16bn, having been established two decades ago through its acquisition of Deerpath Capital.

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“The DACH region is one of the most compelling opportunities in European direct lending, with a deep base of family and sponsor-owned businesses,” said Matthew Harvey, global head of middle market direct lending at PGIM, to whom Scheer will report.

“Robert combines genuine local expertise with a strong cross-border execution track record, and his appointment reflects the continued build out of our market-leading origination platform in continental Europe.”

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Scheer joins PGIM from M&G Investments, where he was co-head of private credit origination, leading sponsor-led mid-market activity and cross-border deal teams across London, Frankfurt and Amsterdam. Prior to that, he was head of direct lending for the DACH region at M&G.

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