Pacific Investment Management Co. is pitching more bespoke and private financing to businesses struggling to raise funds amid high borrowing costs, as the asset manager looks to juice returns from non-traditional lending.
Jamie Weinstein, who helps lead Pimco’s $170 billion alternative-investment business, said in a note Monday that he sees opportunities to lend to companies seeking to shore up capital during these times of economic uncertainty. In a strategy that can be seen as an extension to private credit, Pimco is offering equity as well as debt in complex transactions across the senior and junior parts of the borrower’s capital structures.