Pimco to launch distressed debt fund |
September 13, 2007 |
With the subprime–mortgage
market turmoil looking to ease out, Pacific Investment Management
Co. will form a USD 2 billion distressed-debt fund, which will
invest in mortgage-backed securities, asset backed securities and
collateralized debt obligation, The Wall Street Journal reported.
This scheme of Pimco is likely to have other competitors as well
in the race for Earlier Pimco’s rival, Los Angeles-based TCW Group Inc. made
a similar move and closed its USD 1.56 billion fund to new investors
last month, The Journal reported. Analysts said that regardless of
launching of these new vehicles following last summer’s debacle,
trouble may still behold if the debt markets remain hard to trade
for too long.
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know more about Epitome Global Services visit us at:
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