PIMCO REIT files for IPO of up to $600 million

NEW YORK (Reuters) – PIMCO’s new real estate finance company, PIMCO REIT Inc, has filed with U.S. financial regulators to raise up to $600 million in an initial public offering on Tuesday.

The company would buy, manage and finance residential and commercial mortgage-backed securities and would be managed by PIMCO REIT Management LLC, a wholly-owned subsidiary of the world’s largest bond fund manager, according to the filing with the U.S. Securities and Exchange Commission.

Concurrently with the IPO, the REIT expects to sell at least $10 million worth of common stock in a private placement to some of its senior managers and other executives at PIMCO and its affiliates.

The company plans to list shares on the New York Stock Exchange under the symbol “PIMR.” (PIMR.N: Quote, Profile, Research)

Credit Suisse, Goldman Sachs and JPMorgan are underwriting the IPO, according to the filing.

(Reporting by Alina Selyukh; editing by Bernard Orr)

PIMCO REIT files for IPO of up to $600 million