Pimco raises over $7 billion for asset-based finance strategy - Bloomberg

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Investing.com -- Pacific Investment Management Co. has raised more than $7 billion for its asset-based finance strategy, including its first funds specifically designed for insurance companies and wealthy individuals.
The funds will focus on investments in loans backed by hard and financial assets across residential and consumer markets, according to reporting from Bloomberg, citing a person familiar with the matter.
The capital was raised for several funds, including Pimco Asset-Based Lending Co., an evergreen vehicle for wealthy individuals that is expected to exceed $500 million in early 2026. The fundraising also included a dedicated fund for insurance capital that collected $1.8 billion and invests directly in private investment-grade loans.
Additional commitments are expected in the coming months, the source indicated.
Approximately one-third of the investors are new to Pimco. This latest fundraising effort will increase the total assets in Pimco’s private asset-based funds to more than $20 billion by the end of 2025.
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