PIMCO Alternative Credit & Private Strategies1,2
PIMCO is one of the largest credit investors in the world, with a distinct presence across the risk and liquidity spectrum in global credit markets.
We invest globally across corporate credit, commercial real estate debt, residential mortgages and specialty finance markets, with experience that spans lending platforms, direct origination, structured finance, leveraged finance, distressed credit and sub-performing credit.
We believe in taking a highly integrated investment approach, which leverages our macroeconomic process, robust experience managing flexible and opportunistic credit investing, global credit research team and deep analytics resources.
PIMCO’s alternative credit platform was built on flexibility and resilience. We believe that an opportunistic and risk-conscious approach to credit investing can allow investors to take advantage of opportunities across the credit spectrum, while maintaining sufficient flexibility to react to broad-based and sector-specific dislocations.
- $23 billion in alternative credit & private strategies AUM
- ~$100 billion deployed into private markets
- 90+ dedicated alternative credit and private strategies portfolio management resources
- 70+ portfolio analytics resources
- 65+ credit research analysts
Commercial Real Estate
Since 2011, our real estate team has invested over $5 billion of capital across private debt and equity opportunities. This activity has spanned opportunistic and value add real estate private equity investments, control and non-control positions in real estate-related public equities, and a variety of debt instruments, including non-performing loans, senior lending, mezzanine lending and investments in CMBS across the capital structure. We have more than 30 real estate investment professionals across Newport Beach, New York, London and Munich that span a diverse range of specializations and backgrounds including originations, capital markets, real estate acquisitions and asset management.3
Our team is active across all four quadrants of global real estate markets – public debt, private debt, public equity and private equity. Our approach is differentiated in that we are highly integrated with PIMCO’s broader platform, allowing us to apply macro insights, analytics and credit research into our investment process, while also benefiting from the firm’s financing and sourcing channels.
Commercial Real Estate (CRE) Debt
Our capabilities in CRE debt include senior transitional lending, mezzanine lending, legacy and post-crisis CMBS, sub-performing loans, agency multi-family debt and land/construction finance. We believe that our distinct presence across REIT debt, senior and subordinate CMBS, direct lending and CRE private equity provides potentially significant advantages.
Our corporate credit capabilities span leveraged loans, high yield bonds, bank capital, CLOs/CBOs, direct lending, capital solutions and distressed investing across developed and developing markets. We have played a leading role in several of the largest corporate restructuring efforts following the global financial crisis.
Residential Mortgage Debt
Our residential mortgage team is one of the largest providers of capital to the U.S. and European residential mortgage markets. Our activities span credit-sensitive RMBS, prepayment sensitive RMBS, new origination loans, legacy loans and direct origination platforms.
Our specialty finance team focuses on consumer and commercial specialty finance. Our consumer finance practice focuses on various forms of consumer lending, credit card receivables, student lending and auto lending. In commercial finance, we are active across trade finance, transportation finance, equipment finance, insurance finance and other esoteric lending opportunities.
Our alternative credit platform provides investors with a variety of flexible and/or opportunistic credit solutions for both qualified retail and institutional investors across the risk, return and liquidity spectrum.
Semi-liquid Credit strategies
- Relative Value
- Global credit relative value strategy
- Enhanced Liquid Credit
- Liquid credit strategies seeking to enhance returns through prudent use of leverage on public credit assets
- Tactical Opportunities
- Directional, opportunistic credit strategy that seeks to capitalize on opportunities across global public and private credit markets while hedging a portion of credit beta
Private Performing Credit strategies
- Private Income
- Global, multi-sector private credit strategy spanning all key private credit verticals (corporate, CRE debt, residential mortgage and specialty finance)
- Private Commercial Real Estate Debt
- Senior commercial mortgage lending strategy targeting transitional commercial real estate debt in the United States
- Bank Recapitalization and Value Opportunities
- Opportunistic thematic multi-asset strategy with the flexibility to allocate across public and private, debt and equity markets
- Corporate Opportunities
- Opportunistic corporate strategy that focuses on capital solutions, stress/distress and idiosyncratic situations in public and private markets
- Collateralized Loan Obligations (CLOs)
- Flexible CLO strategy seeking to capitalize on relative value opportunities across the capital structure in CLO debt and equity
PIMCO also manages registered funds, including PIMCO Flexible Credit Income Fund. For more information, please click here.