PIMCO strengthens alternatives strategy with Solar Capital Partners tie-up

PIMCO, a leading global investment management firm owned by Allianz SE, has entered into a joint venture with Solar Capital Partners to further develop and expand its private credit platform.
 

Solar Capital Partners, with its decade-long successful track record of making private loans to corporate borrowers, brings to the partnership an extensive network of relationships with middle-market borrowers and private equity sponsors.

The joint venture, which strengthens the collaboration between the two companies that began in 2014, “is a continuation of the disciplined expansion of PIMCO’s alternatives’ strategies since 2004...” PIMCO Chief Executive Officer Emmanuel Roman said.

Founded in 1971, PIMCO has more than $27 billion in alternative assets with a significant presence in private corporate credit across strategies.

According to the company’s Group Chief Investment Officer Dan Ivascyn, private credit presents an attractive “super-secular opportunity”.

PIMCO can bring “depth of resources” to Solar Capital Partners’ investment process, said Michael Gross, the co-founder of the investment advisor.

“Together with the two publicly-traded business development companies that we manage - Solar Capital Ltd and Solar Senior Capital Ltd - our joint venture with PIMCO can provide us with significant scale to deliver full solutions to our clients,” Solar Capital Partners Co-Founder Bruce Spohler added.

Since its formation in 2006, Solar Capital Partners has invested about $5.8 billion in over 255 different portfolio companies with more than 165 private equity sponsors.

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