PIMCO’s Dan Ivascyn seeks conditions for $16B Oracle data center deal

When you manage one of the world’s largest fixed-income portfolios, you don’t just show up to the table. You set the table. That’s essentially what PIMCO’s group chief investment officer Dan Ivascyn did with Oracle’s colossal data center campus financing, a $16 billion package that ranks among the largest single-project financings in recent memory. The deal, announced in April 2026 by Related Digital, covers a sprawling Oracle data center campus in Saline Township, Michigan. PIMCO anchored the debt component, which totaled approximately $14 billion, reportedly taking around $10 billion of that tranche for accounts it manages. The remaining equity came from Related Digital and funds affiliated with Blackstone, with Bank of America serving as the structuring agent. How PIMCO used its scale as leverage Ivascyn has noted that private placements allow PIMCO to leverage its scale for more favorable terms. When you’re committing $10 billion to a single project, you get to negotiate protections and pricing that smaller players simply can’t demand. PIMCO reportedly secured its large position in the debt tranche at a discount before allocations were made in the 144A market. By locking in fav...