The firm will offer liquidity solutions to institutional LPs and GPs, with a focus on credit strategies.
Applicants must have advised on at least $10 billion in committed capital across private equity funds, secondaries, and co-investments.
PIMCO Private Income Fund targets performing private credit across hard assets, financial assets, and corporate credit, including through secondaries.
The London-based startup aims to address private credit's fund-level liquidity, which remains constrained by available cash and redemption terms.
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 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.
