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CIO Steven Fischler says the firm is targeting a first close on April 1 as the firm bolsters its bridge and subordinate lending activity.
Emily Bannister, Wellington Management
Ravi Anand and three other PIMCO alum will establish the Boston-based manager’s real estate credit presence and outline plans for a flagship strategy.
Bridge lenders are adapting private credit strategies to bridge to the next cycle.
A Mavik Capital bridge loan helped to restart construction on a stalled apartment project.
As banks are pulling back, debt funds are helping sponsors bridge the gap to the next cycle.
The firm anticipates another capital closing before year-end and then a final close late in the first quarter.
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