# PIMCO Access Income Fund

PIMCO Access Income Fund is an Asset Manager based in Newport Beach, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Newport Beach, United States
- **Region:** North America
- **Address:** Newport Beach, CA, United States
- **Founded:** 2022
- **Assets under management:** Undisclosed
- **Website:** accessincomefund.com

## Regulatory record

- **Reports private funds:** No

## About

PIMCO Access Income Fund was launched in January 2022 as a perpetually offered closed-end interval fund, designed to hold a concentrated portfolio of private credit, commercial real estate debt, and structured credit assets. The fund is managed by Alfred Murata and Joshua Anderson, both long-tenured PIMCO managing directors, under the oversight of PIMCO Group CIO Daniel Ivascyn. Unlike traditional open-end mutual funds, the interval structure limits redemptions to a quarterly window of 5% of shares outstanding, matching the fund's portfolio duration and allowing for direct origination of private corporate loans. The fund allocates across three primary sleeves: opportunistic private credit, commercial real estate credit, and structured credit. Within private credit, the fund originates or participates in first-lien senior secured loans to middle-market and upper-middle-market borrowers, often in club deals or alongside PIMCO's broader institutional managed accounts. In real estate, it focuses on transitional lending, mezzanine debt, and distressed property notes. Confirmed positions, per the fund's quarterly filings, include loans to software, healthcare services, and specialty finance companies. The geographic footprint is primarily North America, with selective exposure to developed Europe. PIMCO Access Income Fund reported $1.5 billion in total managed assets as of its most recent annual report. The vehicle sits within PIMCO's larger $1.9 trillion platform but operates as a standalone registered investment company. Alfred Murata has run portfolio management at PIMCO since 2001 and Joshua Anderson has led the firm's income and real estate credit strategies since 2011. In May 2024, the fund declared a quarterly distribution of $0.15 per share, maintaining its distribution rate while the portfolio yield trended above 10% annualized. The fund's structural differentiator is straightforward: it functions as a permanent-capital vehicle for illiquid credit, targeted at individual investors who cannot access institutional PIMCO drawdown funds. Most interval funds in the market are multi-manager or sub-advised; this one is run entirely by PIMCO's own income team, with the same loan-origination infrastructure that services the firm's flagship institutional separate accounts. The quarterly liquidity constraint is the trade-off — investors get PIMCO's private-deal pipeline but cannot exit on demand.

## Sectors

- Private Credit
- Real Estate
- Structured Credit

## People

- Alfred Murata — Portfolio Manager
- Joshua Anderson — Portfolio Manager
- Daniel Ivascyn — Group Chief Investment Officer, PIMCO

## Questions

### Who runs investment decisions at PIMCO Access Income Fund?

The fund is managed jointly by Alfred Murata and Joshua Anderson, both managing directors at PIMCO. Murata has been with PIMCO since 2001 and co-manages several income-oriented strategies; Anderson has led PIMCO's real estate and income credit platform since 2011. They report to Daniel Ivascyn, PIMCO's Group CIO, per the firm's official communications.

### Does the fund participate in fund commitments or only direct deals?

The fund primarily invests directly in privately originated corporate loans, commercial real estate debt, and structured credit securities. It does occasionally purchase tranches of CLOs or asset-backed securities, but the mandate is built around direct origination rather than fund-of-funds commitments, per the fund's prospectus and quarterly filings.

### How do liquidity and redemption terms work for interval-fund investors?

Shareholders can only redeem at net asset value during quarterly repurchase windows, and redemptions are capped at 5% of the fund's total shares outstanding per quarter. If repurchase requests exceed the cap, they are fulfilled on a pro-rata basis. This structure prevents forced asset sales and allows the fund to hold illiquid private loans without a daily liquidity mismatch.

## Related profiles

- [ASP Isotopes](https://altss.com/profile/asp-isotopes-inc)
- [AH Realty Trust](https://altss.com/profile/ah-realty-trust-inc)

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Last updated: 2026-06-03T20:00:00.000Z

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