Private company

PIMCO Asset-Based Lending Co LLC

In its 2026 annual report the company says: “The Company is a lending platform engaging in asset-based finance in the U.S. and Europe. Our objective is to build a diversified portfolio of Asset-Backed Instruments through our wholly or majority-owned subsidiaries.”5 It is headquartered in Newport Beach, United States.2

Last updated Oct 20, 2026.

Overview

  • IndustryInvestment Advice2
  • HeadquartersNewport Beach, United States2
  • Incorporated inDE3
  • Business address650 Newport Center Drive, Newport Beach, Ca 926603
  • Filer category, Emerging growth company3
  • Legal formLimited Liability Company2
  • LEI2549009MHXVE8QRAY9752
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressC/O CORPORATION SERVICE COMPANY, 19808 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 101277442

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The Company is a lending platform engaging in asset-based finance in the U.S. and Europe. PIMCO, across its complex, defines asset-based finance as a platform that primarily intends to fund, finance and structure Asset-Backed Instruments outside the traditional corporate and commercial real estate lending markets. The term “Asset-Backed Instruments” refers to loans and other instruments that are collateralized by, or payable from a stream of payments generated by, a specified pool of real assets, financial assets, insurance assets or other assets.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Fiscal year2025
Cash$40.3M9
Total assets$385.6M9
Total liabilities$50.6M9

Compare PIMCO Asset-Based Lending Co LLC with another company

Corporate structure

PIMCO Asset-Based Lending Co LLC sits at the top of its group. 59 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

  • PIMCO Asset-Based Lending Co LLC Newport Beach, California, United States
    • Loan Funding Structure VIII LLC Subsidiary · Delaware, United States
    • PAL CL Trust 1 Subsidiary · New York, United States
    • PAL CL Trust 2 Subsidiary · New York, United States
    • PAL Offshore 1 LTD Subsidiary · Cayman Islands
    • PAL Residential Funding 1 Depositor LLC Subsidiary · Delaware, United States
    • PAL Residential Funding 1 Securities Holding LLC Subsidiary · Delaware, United States
    • PAL RL Grantor Trust 1 Subsidiary · New York, United States
    • PAL RL Grantor Trust 2 Subsidiary · New York, United States
    • PAL RL Holdings Trust 1 Subsidiary · New York, United States
    • PAL RL REI 1 LLC Subsidiary · Delaware, United States
    • PAL RL REI 2 LLC Subsidiary · Delaware, United States
    • PAL RL Title Trust 1 Subsidiary · New York, United States
    • PAL RL Title Trust 2 Subsidiary · New York, United States
    • PALCO Holding A LLC Subsidiary · Delaware, United States
    • PALCO Holding A Offshore LP Subsidiary · Cayman Islands
    • PALCO Holding B LLC Subsidiary · Delaware, United States
    • PALCO Holdings 1 LP Subsidiary · Delaware, United States
    • PALCO Holdings 2 LP Subsidiary · Delaware, United States
    • PALCO Holdings 3 LP Subsidiary · Delaware, United States
    • PALCO Holdings 4 LP Subsidiary · Delaware, United States
    • PALCO Holdings 5 LP Subsidiary · Delaware, United States
    • PALCO Liquid Strategies LP Subsidiary · Delaware, United States
    • PALCO LRA GP LLC Subsidiary · Delaware, United States
    • PALCO LVS 1 LP Subsidiary · Delaware, United States
    • PALCO LVS 10 LP Subsidiary · Delaware, United States
    • and 33 more

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC. Each entity in the chart links to its source.

What it owns

What PIMCO Asset-Based Lending Co LLC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Properties, in its own words

Our corporate headquarters are located at 650 Newport Center Drive, Newport Beach, CA 92660, and are provided by the Operating Manager. We believe that our office facilities are suitable and adequate for our business as it is contemplated to be conducted.

Item 2 of the 10-K filed Mar 31, 2026.5

Leadership

Who has led PIMCO Asset-Based Lending Co LLC, and when. Pick a name to see everywhere that person has worked.

President

  1. Jason Robert Steiner2025–now
  2. Silva Harin Ananda De2025–now
Board members and other officers (8)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Principal Financial Officer and Principal Accounting OfficerCrystal Porter named Sep 26, 2025 to Jul 28, 202620
  • Co-PresidentHarin de Silva named Sep 26, 2025 to Jul 28, 202620
  • DirectorJeff Mayer named Sep 26, 2025 to Jul 28, 202620

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Loan Funding Structure VIII LLC Delaware4
  • PAL CL Trust 1 New York4
  • PAL CL Trust 2 New York4
  • PAL Offshore 1 LTD Cayman Islands4
  • PAL RL Grantor Trust 1 New York4
  • PAL RL Grantor Trust 2 New York4
  • PAL RL Holdings Trust 1 New York4
  • PAL RL REI 1 LLC Delaware4
  • PAL RL REI 2 LLC Delaware4
  • PAL RL Title Trust 1 New York4
  • PAL RL Title Trust 2 New York4
  • PAL Residential Funding 1 Depositor LLC Delaware4
  • PAL Residential Funding 1 Securities Holding LLC Delaware4
  • PALCO Holding A LLC Delaware4
  • PALCO Holding A Offshore LP Cayman Islands4
  • PALCO Holding A Offshore Ltd. Cayman Islands4
  • PALCO Holding B LLC Delaware4
  • PALCO Holdings 1 LP Delaware4
  • PALCO Holdings 2 LP Delaware4
  • PALCO Holdings 3 LP Delaware4
  • PALCO Holdings 4 LP Delaware4
  • PALCO Holdings 5 LP Delaware4
  • PALCO LRA GP LLC Delaware4
  • PALCO LVS 1 LP Delaware4
All 59 listed subsidiaries
  • PALCO LVS 10 LP Delaware4
  • PALCO LVS 11 LP Delaware4
  • PALCO LVS 12 LP Delaware4
  • PALCO LVS 13 LP Delaware4
  • PALCO LVS 14 LP Delaware4
  • PALCO LVS 15 LP Delaware4
  • PALCO LVS 16 LP Delaware4
  • PALCO LVS 17 LP Delaware4
  • PALCO LVS 18 LP Delaware4
  • PALCO LVS 19 LP Delaware4
  • PALCO LVS 2 LP Delaware4
  • PALCO LVS 20 LP Delaware4
  • PALCO LVS 21 LP Delaware4
  • PALCO LVS 23 LP Delaware4
  • PALCO LVS 24 LP Delaware4
  • PALCO LVS 25 LP Delaware4
  • PALCO LVS 26 LP Delaware4
  • PALCO LVS 27 LP Delaware4
  • PALCO LVS 29 LP Delaware4
  • PALCO LVS 3 LP Delaware4
  • PALCO LVS 30 LP Delaware4
  • PALCO LVS 4 GP LLC Delaware4
  • PALCO LVS 4 LP Delaware4
  • PALCO LVS 5 GP LLC Delaware4
  • PALCO LVS 5 LP Delaware4
  • PALCO LVS 6 GP LLC Delaware4
  • PALCO LVS 6 LP Delaware4
  • PALCO LVS 7 GP LLC Delaware4
  • PALCO LVS 7 LP Delaware4
  • PALCO LVS 8 LP Delaware4
  • PALCO LVS 9 GP LLC Delaware4
  • PALCO LVS 9 LP Delaware4
  • PALCO Liquid Strategies LP Delaware4
  • PALCO Strategies LP Delaware4
  • Phantom Long Ridge Offshore GP Ltd. Cayman Islands4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Oct 2, 20268-K Unregistered sale of shares; Other events21
  2. Sep 3, 20268-K Unregistered sale of shares; Other events22
  3. Aug 3, 20268-K Unregistered sale of shares; Other events23
  4. Jul 2, 20268-K Unregistered sale of shares; Other events24
  5. Jun 17, 20268-K Entered a material agreement; Bylaws or fiscal year changed; Other events25
  6. Jun 3, 20268-K Unregistered sale of shares; Other events26
  7. May 4, 20268-K Unregistered sale of shares; Other events27
  8. Apr 2, 20268-K Unregistered sale of shares; Other events28
  9. Mar 5, 20268-K Entered a material agreement; Unregistered sale of shares; Bylaws or fiscal year changed29
  10. Feb 13, 20268-K Other events30
  11. Jan 30, 20268-K Unregistered sale of shares; Other events31
  12. Dec 31, 20258-K Unregistered sale of shares; Other events32
  13. Mar 11, 2025Founded PIMCO Asset-Based Lending Co LLC is founded2

Filings

52 filings to the SEC since October 2021: 1 annual reports, 3 quarterly reports, 15 major events, 19 insider forms, 4 private raises, 10 other. The latest 20:

  1. Oct 2, 20268-K EDGAR
  2. Sep 3, 20268-K EDGAR
  3. Aug 13, 202610-Q EDGAR
  4. Aug 3, 20268-K EDGAR
  5. Jul 28, 2026D/A EDGAR
  6. Jul 13, 20268-A12G EDGAR
  7. Jul 2, 20268-K EDGAR
  8. Jun 29, 202615-12G EDGAR
  9. Jun 17, 20268-K EDGAR
  10. Jun 3, 20268-K EDGAR
  11. Jun 1, 20264 OWNERSHIP DOCUMENT EDGAR
  12. Jun 1, 20264 OWNERSHIP DOCUMENT EDGAR
  13. Jun 1, 20264 OWNERSHIP DOCUMENT EDGAR
  14. May 14, 202610-Q EDGAR
  15. May 4, 20268-K EDGAR
  16. Apr 15, 2026D EDGAR
  17. Apr 2, 20268-K EDGAR
  18. Mar 31, 202610-K EDGAR
  19. Mar 5, 20268-K EDGAR
  20. Feb 13, 20268-K EDGAR

The 52 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

2 open-market trades by officers, directors and large owners since October 2021: 2 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
May 28, 2026de Silva Harin AnandaCo-PresidentBuy24,193$10.33$249.9KForm 4
Sep 28, 2025Allianz Asset Management of America LLC10% ownerBuy1,183,513$10.11$12.0MForm 4

From Forms 4 filed with the SEC.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Apr 1, 2026Raised $880,000 in a private offering of securities Form D: 110 investors so far Form D
  2. Sep 26, 2025Filed a private offering of securities Form D: named in the filing: Richard LeBrun, Debra Huddleston, David Flattum, Harin de Silva, Christian Clayton, Ryan Leshaw Form D
  3. Aug 1, 2025Raised $603.3 million in a private offering of equity Form D: 894 investors so far Form D

SEC filer profile

How PIMCO Asset-Based Lending Co LLC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARPIMCO Asset-Based Lending Co LLC1
  • CIK0002073537
  • Employer ID (EIN)33-41884345
  • Filer statusNon-accelerated filer an emerging growth company; not a smaller reporting company; not a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsDecember 311
  • Industry code (SIC)6282 Investment Advice1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business address650 Newport Center Drive, Newport Beach, CA 926601
  • Phone(949) 720-60001
  • Shares outstanding11,173,522 Anchor I Shares shares; 10,635,428 Anchor II Shares shares; 10,061,481 Anchor Iii Shares shares; 491,298 Standard A Shares shares; 4,310,925 E Shares shares as of Feb 28, 20265
  • Public float$0 as of Dec 31, 20259
  • AuditorPricewaterhouseCoopers LLP, Kansas City, Missouri PCAOB ID 238; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceJul 21, 20251
  • Filings54 in all: 8-K (15), 3 (12), 4 (7), 10-Q (3), D (3), UPLOAD (3), 10-12G/A (2), CORRESP (2)1
    All 15 form types

    10-12G (1), 10-K (1), 15-12G (1), 40-APP (1), 40-APP/A (1), 8-A12G (1), D/A (1)

  • Latest filingsAnnual report (10-K) Mar 31, 2026
    Quarterly report (10-Q) Aug 13, 2026
    Latest 8-K (8-K) Oct 2, 2026

Risk factors and legal proceedings

The risks PIMCO Asset-Based Lending Co LLC names in Item 1A of its 10-K filed Mar 31, 2026: 76 risks under these headings, as written.5

  • Risks Related to the Company and an Investment in the Shares
  • The Company faces heightened risks because it is a recently formed entity with a limited operating history and record.
  • The Company’s Portfolio Assets (including the Asset-Backed Instruments) may not achieve the Company’s business objectives or generate returns for Shareholders.
  • The Company’s ability to achieve its business objectives depends on the Operating Manager because the Operating Manager has significant discretion as to the implementation of the Company’s objectives and policies.
  • The Company’s Shares are not registered under the Securities Act, so they are subject to heightened restrictions on transferability and resale.
  • There is no market for the Shares, and Shareholders bear the risks of owning Shares for an extended period of time due to limited repurchases.
  • Shareholders have limited liquidity and may be limited in their opportunity to have their Shares repurchased and may not receive a full return of their invested capital if they elect to have their Shares repurchased by the Company.
  • There is no public trading market for the Shares; therefore, a Shareholder’s ability to dispose of its Shares will likely be limited to repurchase by the Company. If a Shareholder sells its Shares to the Company, the Shareholder may receive less than the price it paid.
  • Economic events that may cause the Company’s Shareholders to request that the Company repurchase their Shares in connection with a Share Repurchase may materially and adversely affect the Company’s cash flows, its results of operations and its financial condition.
  • The Company may require a Shareholder to have their Shares repurchased at any time in the Company’s sole discretion.
  • The amount of any distributions the Company may pay is uncertain. The Company may not be able to sustain the payment of distributions.
  • The Company is subject to substantial fees and expenses, which could impact Shareholder returns.
The other 65 risks
  • Payment by the Company of the Management Fee or Performance Fee in Shares will dilute a Shareholder’s interest in the Company.
  • The Company is responsible for the costs of its personnel and employees and for the costs of certain of the Operating Manager’s employees when used for the Company’s benefit.
  • Valuations of the Company’s assets are estimates of fair value and may not necessarily correspond to realizable value.
  • Monthly NAV calculations are not governed by governmental or independent securities, financial or accounting rules or standards.
  • Shareholders do not have control or influence over Company policies, operations or acquisitions or the decision to conduct Share repurchases or the selection of Service Providers. Further, under certain circumstances, the Company may amend the LLC Agreement without Shareholder approval and Shareholders are not entitled to vote for the election of directors.
  • Prospective Shareholders will not know the NAV per Share of their investment until after the investment has been accepted.
  • If the Company’s series limited liability company structure is not respected, then Shareholders may have to share any liabilities of the Company and the other Series with all Shareholders and not just those who hold Shares of the same Series as them.
  • While the Company believes neither Series nor the Company is or will be an investment company under the Investment Company Act, the Company cannot guarantee it will always be able to maintain its intended status under the Investment Company Act.
  • The Company may take actions or forgo potential opportunities to ensure that it is not deemed an investment company and there is no guarantee that the Company will be able to adjust its assets in the manner required to maintain an exclusion from registration under the Investment Company Act and any adjustment in the Company’s strategy or assets could have a material adverse effect on the Company.
  • The Company may have control positions in certain portfolio companies, which may expose the Company to additional liabilities and other legal risks and burdens.
  • Risks Related to Owning and Managing a Platform of Underlying Asset-Backed Instruments
  • The Company faces heightened risks relating to owning and managing Asset-Backed Instruments.
  • The Company’s lending platform manages a significant amount of asset-based securities in a range of asset classes that subject them to further risks, including, among others, credit risk, liquidity risk, interest rate and other market risk, operational risk, structural risk, sponsor risk, monoline wrapper risk and other legal risk.
  • The Company faces heightened risk because its strategy concentrates its assets in Asset-Backed Instruments. Because a significant amount of the Company’s aggregate capital could be invested in a single Asset-Backed Instrument, a loss with respect to such Asset-Backed Instrument could have a significant adverse impact on the Company’s capital.
  • The Company’s Portfolio Assets may also be impacted by interest rate fluctuations which may be beyond the control of the Company.
  • The Company faces risks by originating loans if then unable to sell, assign or close a transaction for such loan.
  • Being a control person in a company may give rise to increased risk of liability for the Company and the Operating Manager, which could adversely affect a portion of the Company’s assets.
  • There is no restriction on credit quality for Company acquisitions of debt instruments and the amount and timing of payments with respect to loans are not guaranteed, which may cause losses.
  • Acquiring Asset-Backed Instruments puts the Company at risk of any adverse changes of those assets.
  • The Company faces risks associated with opportunities in loans secured by real estate.
  • The Company faces risks associated with acquiring residential mortgage-backed securities.
  • The Company may face risks associated with purchasing participation interests in debt instruments.
  • The Company’s business may be affected by prepayment risk.
  • If a REIT Subsidiary does not qualify as a REIT, it will be subject to tax as a regular corporation and could face a substantial tax liability.
  • The Company may face risks associated with REITs.
  • Due to different accounting and other standards, the Company may be presented with information that is less reliable and less sophisticated than GAAP principles would allow for, which would adversely affect the Company’s business.
  • Some Asset-Backed Instrument acquisitions occur on an expedited basis which may result in limited financial information being available, and limited time to conduct analysis.
  • The Company may need to incur financial leverage to be able to achieve its business objectives. The Company cannot guarantee the availability of such financing.
  • The success of the Company depends on its ability to navigate the acquisitions and competition of the market. It is possible that competition for appropriate acquisition opportunities may increase, thus reducing the number of opportunities available to the Company and adversely affecting the terms, including pricing, upon which Asset-Backed Instruments can be acquired.
  • Credit facilities may impose limitations on the Company’s business, such as caps on borrowings, or result in the Company being liable for borrowings of another party to a transaction.
  • Industry and Sector Specific Risks
  • Risks Related to Strategic Investments in Securities and Other Asset-Backed Instruments
  • The Company’s acquisition of Asset-Backed Instruments may involve risks that differ from or are greater than risks associated with other types of instruments. Such risks include, among others, credit risk, liquidity risk, interest rate and other market risk, operational risk, structural risk, sponsor risk and other legal risk.
  • Positions in smaller and middle-market companies can involve heightened risks due to, among other factors, lack of resources, wider price fluctuations and reduced liquidity from lower frequency and volume of trading in the company’s securities.
  • Positions in stressed and distressed assets are speculative in nature and may incur significant or total losses for the Company.
  • Bankruptcy and insolvency cases involve many significant risks and may lead to material or total losses on the Company’s positions.
  • Changes in bankruptcy and insolvency laws may increase the risk of losses on the Company’s positions.
  • Non-U.S. bankruptcy and insolvency laws may increase the risk of losses on the Company’s positions.
  • The Company faces risks arising from providing debtor-in-possession and rescue financing and could incur partial or total losses if the debtor fails to successfully restructure or reorganize or due to insufficient collateral or otherwise.
  • The Company may be subject to claims under lender liability, equitable subordination and debt recharacterization theories.
  • The Company’s instruments are subject to fraudulent conveyance and preference considerations and thus involve heightened risk of loss.
  • The Company faces portfolio company risk, especially with respect to those assets which are stressed, distressed, in special situations or otherwise experiencing financial difficulties.
  • The Company may incur contingent liabilities in connection with its acquisitions, which would involve a higher risk of loss.
  • The Company faces certain risks related to Portfolio Asset monitoring and involvement as well as the related potential conflicts of interest.
  • The Company may acquire trade claims, which are speculative, illiquid and may be subject to transfer restrictions and carry a high degree of risk.
  • The Company may acquire or take positions in “special situations”, which typically involve elevated risk due to, among other things, incomplete information and asymmetric risks.
  • The Company’s acquisitions of equity securities may be subject to limited marketability and price volatility.
  • The Company may acquire corporate debt, which may be sensitive to interest rates and expose the Company to other types of volatility.
  • The Company may acquire high yield debt and unrated securities, which have greater credit and liquidity risk than more highly rated assets.
  • Bank loans and corporate loans may not be readily marketable and may be subject to resale restrictions and other risks.
  • The Company faces risks related to holding mortgages or other consumer loans, including, among others, risk of prepayment, delinquency, default and foreclosure.
  • The Company faces risks associated with acquiring residential mortgage loans, including, among others, the risk of default, delinquency or foreclosure.
  • Due to the long holding period and other unique characteristics often associated with land banking positions, the Company faces heightened entitlement and other regulatory risks.
  • The Company’s origination and syndication of certain assets are subject to market competition and supply of qualifying loans, which could reduce the Company’s returns.
  • The Company faces risks based on its ability to acquire loans on advantageous terms and competition and supply.
  • The Company faces risks associated with owning convertible securities, which may be subject to redemption at the option of the issuer at a price established in the convertible security’s governing instrument.
  • The Company may be subject to macroeconomic risk factors affecting financial entities, including economic and political conditions, market trends, capital requirements and regulation.
  • The Company faces competitive conditions in the financial services industry.
  • The Company also faces operational risks associated with the financial services industry.
  • The Company faces risks associated with banking, which is a highly leveraged business.
  • The Company’s acquisitions may be subject to state banking regulations.
  • The Company’s acquisitions may be subject to other bank and thrift-related laws and regulations.
  • The Company’s acquisitions may be subject to foreign bank or financial company-related laws and regulations.
  • The Company faces risks associated with ownership of restricted securities, including reduced liquidity, infrequent and reduced trades, less available information, difficulty in valuation and trading restrictions.
  • Because of the Company’s interest in zero-coupon bonds, deferred interest rate bonds and payment-interest securities, the Company may face outsized impacts from interest rate fluctuations and other credit risks which may be beyond the control of the Company.
  • The Company faces interest-rate risks associated with ownership of inflation-indexed bonds.
  • The Company faces volatility and other unanticipated risks, including, among others, counterparty and credit risk, associated with ownership of event-linked instruments.
  • The Company’s potential acquisitions of term loans, delayed draw loans, revolvers and bridge loans may require the Company to increase its position even if repayment is unlikely, and such acquisitions may be difficult to transfer or resell.

Legal proceedings

We are not currently subject to any material legal proceedings, nor, to our knowledge, are any material legal proceedings threatened against us. In addition, we are not aware of any legal proceedings, actual or threatened, that would be expected to materially adversely affect the Operating Manager’s ability to meet its obligations to the Company pursuant to the Operating Agreement. From time to time, we, or the Operating Manager, may be a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of our rights under contracts with our Portfolio Assets. We may also be subject to regulatory proceedings.

The opening of Item 3, Legal Proceedings.5

Sources

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    SEC EDGAROther events
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