PIMCO Assumes Oversight of Allianz Real Estate
Newport Beach, California (October 5, 2020) – PIMCO, one of the world’s premier fixed income investment managers, announces that it has officially assumed the leadership and oversight of Allianz Real Estate – a leading global commercial real estate investment business. This partnership is among the world’s largest and most diversified commercial real estate platforms, managing more than $100 billion in core, core-plus, value-add and opportunistic real estate assets around the world.
First announced by PIMCO and Allianz Real Estate in March of this year, this partnership expands PIMCO’s access to talent, resources, and data, which should enhance the firm’s existing private strategies platform, particularly those investment vehicles which emphasize real estate. Allianz Real Estate has historically been the captive real estate arm of Allianz’s multiple global insurance balance sheets and has grown into a successful investment engine. The portfolio holds more than €50 billion in private real estate equity and more than €20 billion in privately originated real estate debt. This global franchise is highly complementary to PIMCO’s legacy real estate efforts.
“This combination gives us greater scale in commercial real estate which will expand our prospects for attractive and compelling investment opportunities for clients seeking income-oriented or opportunistic real estate strategies,” said Emmanuel Roman, PIMCO’s Chief Executive Officer. “This partnership also reflects PIMCO’s strong bond with our parent Allianz and we have many people to thank for reaching this milestone including Allianz CEO Oliver Bate, the Allianz Board of Directors, and numerous colleagues across PIMCO, Allianz Real Estate and Allianz.”
“We look forward to working together with our colleagues in PIMCO’s real estate area to identify new ways to create products and develop client relationships and to deepen our partnerships across the industry using our expanded global capabilities and scale,” said Francois Trausch, Allianz Real Estate’s Chief Executive Office who will now also be a Managing Director at PIMCO.
“The economic shock caused by the global pandemic has created deep fissures in the commercial real estate market which have yet to be fully reflected in pricing and this creates plenty of investment opportunities,” said Dan Ivascyn, PIMCO’s Group Chief Investment Officer. “In addition, real estate debt markets continue to need flexible capital which was historically the domain of banks but is now more accessible through private lenders.”
PIMCO is one of the world’s premier fixed income investment managers. With its launch in 1971 in Newport Beach, California, PIMCO introduced investors to a total return approach to fixed income investing. In the 45+ years since then, the firm has continued to bring innovation and expertise to our partnership with clients seeking the best investment solutions. Today PIMCO has offices across the globe and 2,800+ professionals united by a single purpose: creating opportunities for investors in every environment. PIMCO is owned by Allianz SE, a leading global diversified financial services provider.
Except for the historical information and discussions contained herein, statements contained in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the performance of financial markets, the investment performance of PIMCO's sponsored investment products and separately managed accounts, general economic conditions, future acquisitions, competitive conditions and government regulations, including changes in tax laws. Readers should carefully consider such factors. Further, such forward-looking statements speak only on the date at which such statements are made. PIMCO undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements.