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Alternative Investments

  • Our ultimate focus is to put together unique alternatives opportunities that offer attractive risk-adjusted returns for our investors. – Daniel Ivascyn, Group CIO

    STRATEGIES

    Alternative Investments

    PIMCO has developed a strong alternatives platform over the last decade. The firm applies dedicated resources to a select group of strategies that seek to capitalize on PIMCO’s broad capabilities across public and private credit, global macro, commodities, volatility and real estate.

Alternative Investment Strategies

Alternatives timeline

Alternatives timeline

PIMCO’s opportunistic strategies are uniquely positioned to leverage the strength of PIMCO’s resources and personnel, including the firm’s extensive relationships with global financial institutions and other sellers of risk, and renowned macroeconomic and asset-level research.

Corporate Credit
A value-oriented opportunistic strategy targeting investments across public and private markets, geographies and capital structures in the less efficient middle market.

Tactical Credit
A unique hybrid structure – investing in both public and private markets – that makes directional investments in residential, commercial and corporate credit.

Real Estate and Mortgages
PIMCO’s real estate and mortgage investments span originations, real estate equity, non-performing and re-performing loans, private debt and structured credit, with the intent to capitalize on the evolving opportunity set, while emphasizing flexibility. We combine bottom-up real estate underwriting with macroeconomic insights to determine optimal asset allocation.

For more information about our alternative strategies, please contact your account manager.

Global Macro
Seeks to deliver absolute returns by using PIMCO’s macroeconomic insights to guide directional and relative value ideas across developed and emerging markets.

Credit Relative Value
Seeks to deliver positive returns with low volatility, low correlation to the market, and an emphasis on capital preservation, by investing in bottom-up relative value and event-driven opportunities.

Commodity Relative Value
Seeks to deliver returns that are sustainable across economic cycles with low correlation to broad commodity, fixed income and equity markets by investing in relative value opportunities across a broad range of commodity markets.

Tactical Credit
A unique hybrid structure – investing in both public and private markets – that makes directional investments in residential, commercial and corporate credit.

Structured Credit
A directional strategy that targets senior structured credit assets. The strategy aims to provide investors with the opportunity to earn carry and potential price appreciation for bearing liquidity and ratings risk with minimal expected long-term credit risk.

For more information about our alternative strategies, please contact your account manager.

Amidst the financial crisis, PIMCO expanded both its capabilities and offerings in direct mortgages, structured credit and real estate with the intent to capitalize on the evolving opportunity set, while emphasizing flexibility. A combination of bottom-up real estate underwriting with macroeconomic insights is used to determine optimal asset allocation. In addition, the strategies focused on uncovering embedded investment risks and value-add potential at the property level and incorporating a relative value framework that includes both public and private real estate data points.

PIMCO’s real estate team includes individuals with real estate private equity, structuring, servicing and origination expertise operating in both the U.S. and Europe. With private and public real estate markets more interconnected than ever, the team’s expertise in asset selection and structure provides a unique perspective to investing and creating value in real estate. Investments span originations, real estate equity, non-performing and re-performing loans, private debt and structured credit, underscoring the team’s flexibility.

PIMCO Mortgage and Real Estate Opportunistic Funds Timeline: Aiming to Capitalize on the Transformation in Real Estate Credit Markets


Real Estate timeline


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Disclosures

PIMCO provides services only to qualified institutions and investors. This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product.


The following disclosures may not include all risks related to the strategies described herein. Additionally, this material is not intended to provide, and should not be relied on for, accounting, legal, tax or other advice. You should consult your advisors regarding such matters.


General risks: The strategies involve a high degree of risk and prospective investors are advised that these strategies are suitable only for persons of adequate financial means who have no need for liquidity with respect to their investment and who can bear the economic risk, including the possible complete loss, of their investment. All investments contain risk and may lose value. The strategies will not be subject to the same regulatory requirements as registered investment vehicles. The strategies may be leveraged and may engage in speculative investment practices that may increase the risk of investment loss. The strategies are not expected to track a particular benchmark. A strategy's fees and expenses may offset its trading profits. The portfolio manager(s) are expected to have broad trading authority over a particular strategy. The use of a single adviser applying generally similar trading programs could mean lack of diversification and, consequently, higher risk. The strategies generally involve complex tax structures and there may be delays in distributing important tax information. A substantial portion of the trades executed for certain strategies may be in non-U.S. securities and take place on non-U.S. exchanges or non-U.S. jurisdictions. Certain strategies may invest in non-publicly traded securities which may be subject to illiquidity risk. Performance could be volatile; an investor could lose all or a substantial amount of its investment. Past performance is not a guarantee or a reliable indicator of future results.


PIMCO manages a number of private investment vehicles other than those listed above, which are not listed because they utilize or utilized different investment strategies or are open to new investment. All the Funds listed above are closed to new investors. Past performance is not indicative of future results, and no assurance can be made that other PIMCO-managed private investment vehicles will resemble those listed above in any respect.


The above narration contains the current opinions of the manager and such opinions are subject to change without notice. The above narration has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. No part of this presentation may be reproduced in any form, or referred to in any other publication, without express written permission.