Bloomberg Talks Pimco CEO Manny Roman Talks AI Financing, Private Markets, Fixed Income
Sep 29, 2025
Manny Roman, CEO of PIMCO, shares his insights on the booming AI infrastructure investment landscape. He discusses the enormous global demand for data centers and the critical energy needs tied to this expansion. Manny emphasizes prudent deal valuations to avoid over-investment in tech, and highlights the importance of navigating uncertain markets with humility. He also explores opportunities in fixed-income markets amidst higher rates and cross-border investment strategies. Additionally, he offers thoughts on the evolving state of US exceptionalism and Fed policy credibility.
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AI Data Centers Are A Huge Secular Opportunity
- Manny Roman views AI data centers as a massive secular opportunity requiring enormous funding and energy infrastructure.
- He expects substantial construction and global demand beyond the US, including a rush for energy capacity.
Originate Only If It Fits Portfolio
- Evaluate each financing deal on relative value and portfolio fit rather than originating for scale.
- Prioritize deals that match your risk-return profile and avoid origination for its own sake.
Be Humble About Long-Term Forecasts
- Long-term predictions for emerging markets like AI infrastructure carry huge uncertainty and wide error bands.
- Manny limits actionable visibility to short horizons and stays humble about multi-year forecasts.