Wellington Taps PIMCO Vets for New Private Real Estate Credit Platform
Wellington Management is expanding its private investing capabilities with a new private real estate credit platform. The firm has tapped Ravi Anand as head of private real estate credit alongside three seasoned investors to build the platform.
The team, which most recently worked together within PIMCO’s commercial real estate debt platform, will focus primarily on originating senior and subordinated loans across property sectors in North America, with the potential to expand to global markets. In addition to Anand, the team includes portfolio manager Zeyu “Chen” Chen; principal, Michael Chen; and associate, Lucas Dias-Lam.
“There is growing and persistent demand for debt solutions within the global commercial real estate markets. This comes at a time where structural shifts in the banking industry continue to constrict supply of capital, providing a unique opportunity for private managers to fill the lending gap for institutional real estate owners and operators,” said Anand.
In addition to real estate, Wellington’s private credit platform is an extension of the firm’s fixed income and private equity platforms, spanning investment-grade private credit, growth lending, and CLO equity. Wellington recently announced the successful final close of its inaugural Wellington CLO Partners Fund I with $194 million of capital commitments.
Wellington serves over 2,500 clients in more than 60 countries, managing more than $1.2 trillion for pensions, endowments and foundations, insurers, family offices, fund sponsors, global wealth managers, and other clients. Its private investing platform manages more than $8.9 billion.
