Wellington Management launches Private Real Estate Credit platform

What's happening: 

Wellington Management is expanding its private investing capabilities by forming a Private Real Estate Credit platform, hiring a team of four seasoned professionals from PIMCO's Commercial Real Estate Debt platform to lead the initiative.

The key moves:

• Ravi S. Anand appointed as Head of Private Real Estate Credit, bringing extensive experience from PIMCO and GE Capital Real Estate

• Team will focus on originating senior and subordinated loans across property sectors in North America with potential global expansion

• Platform leverages Wellington's 30-year history in commercial real estate investments across fixed income and public equities

Key players:

• Ravi S. Anand, Portfolio Manager and Head of Private Real Estate Credit (former PIMCO Executive VP)

• Zeyu "Chen" Chen, Portfolio Manager (former PIMCO senior vice president)

• Michael Chen, Principal (former PIMCO vice president)

• Lucas Dias-Lam, Associate (former PIMCO associate)

By the numbers:

• Wellington manages over $1.2 trillion in assets across fixed income, equity, real assets, and alternatives

• Private Investing platform manages more than $8.9 billion in dedicated assets

• Team of over 65 dedicated professionals works across the private investing platform

Key quotes:

• "This highly skilled and experienced team is a significant and timely expansion of Wellington's ongoing efforts to build a global, scalable, private investing platform," said Emily Bannister, Head of Private Credit

• "There is growing and persistent demand for debt solutions within the global commercial real estate markets... providing a unique opportunity for private managers to fill the lending gap," said Ravi Anand

The wrap: 

This strategic expansion positions Wellington to capitalize on structural shifts in the banking industry that have created opportunities for private capital providers, while strengthening its comprehensive private investing capabilities that span private equity, private credit, and real estate.