The firm will offer liquidity solutions to institutional LPs and GPs, with a focus on credit strategies.
PIMCO Private Income Fund targets performing private credit across hard assets, financial assets, and corporate credit, including through secondaries.
The new offering, Sponsor Capital Solutions, will be led by Justin Garrod, who joins as Managing Director.
Founded in 2007, PennantPark is a mid-market-focused private credit manager with around $10 billion in AUM.
The recently registered interval fund, sub-advised by Barings, will target private asset-based credit investments through direct and secondary transactions.
The credit secondaries vehicle will reportedly acquire loans from the manager's existing portfolio and provide fresh capital for new lending.
The tender offer fund targets private credit investments through primaries, secondaries, co-investments, and directs.
The fund has already secured a $125 million anchor commitment from Beedie Capital following its acquisition of a 50% stake in Vistara.
The new offering gives GPs a structured way to create investor liquidity with greater transparency on buyer selection, pricing, and timing, according to the private credit-focused firm.
"Private credit will never trade like public markets, but investors deserve better tools than 'lock it up and wait," said Nelson Chu, Founder and CEO of Percent.
