Pimco Raises $2 Billion for Asset-Based Private Lending Strategy

Pacific Investment Management Co. raised $2 billion for its specialty finance strategy, a key plank of the bond giant’s push into private lending.

Pimco, which disclosed the capital raise in a recent filing, has been building out its alternatives business in recent years as the firm expands beyond its bond roots. That includes the specialty finance strategy, also known as asset-based finance, secured by financial or hard assets.

Pimco’s specialty finance business offers consumer debt, such as residential mortgages and credit cards, as well as non-consumer loans, such as equipment-based lending and aircraft leasing.

Portfolio managers Harin de Silva ...