Company: PDCC
Filing Date: 2025-07-18
Form Type: N-2
Source: 0001214659-25-010613
Chunk: 15

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-07-18
Form: N-2
Chunk 15
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 securitized products. As a “pure play” CLO investor, the Adviser only invests                 
 in CLO tranches and does not invest in any other form of securitization such as mortgages, credit card receivables or student loans. Further,  
 in order to mitigate potential conflicts of interest, the Adviser does not serve as the collateral manager for any CLOs.                       |

| 7 |

| · | Track record. The Adviser began managing CLO focused investment funds in 2008 and currently                                                 
 provides investment management services to ten funds comprising the Pearl Diver Platform. Since 2008, the Adviser has established a track   
 record of selecting profitable investments with default rates in the underlying collateral pool lower than the average rate for the broader 
 loan market.                                                                                                                                |

| · | Methodical investment process. The Adviser uses a look-through approach which includes in-depth                                            
 credit analysis of the corporate debt assets in the collateral pool underlying each CLO as well as a highly automated structural analytics 
 capability for generating projected CLO cash flows under a variety of stressed scenarios. The precise duration of each CLO is estimated    
 using proprietary duration simulation algorithms. The Adviser employs a proprietary Machine Learning generated data lake that records      
 and benchmarks every CLO manager’s style and alpha creation metrics continually, helping in the construction of balanced and diversified   
 CLO tranche portfolios.                                                                                                                    |

In addition, the Adviser uses a process
and model, for ongoing risk management and monitoring of all the portfolio of investments under management. This involves continued credit
analysis and monitoring of the underlying collateral portfolios inside CLOs, combined with monitoring and reviews of the structural aspects
of each CLO, including the evolution of the various tests and triggers inside CLOs. In essence, the Adviser’s highly differentiated
quantitative approach allows for pricing of every single CLO tranche in the market on a daily basis, allowing the Adviser to take a “relative
value” approach to all CLO investments.

| · | Identification of investment opportunities. The Adviser has extensive relationships at banks,                                                 
 other funds, brokerage houses and other participants in the securitized products market. Through these relationships, the Adviser is notified 
 of a wide range of investment opportunities in CLOs and other securitized products. These investment opportunities are notified to the        
 Adviser either in the course of particular auction processes or as part of private bilateral negotiations with investors or financial         
 institutions that may hold, or