Credit funds raising billions in distressed plays
In the recent months, a growing number of new credit funds have started fundraising as investor appetite for distressed debt, CLOs and other niche special situations is on the rise.
Pimco reportedly is raising up to $3 billion in a distressed assets, but is one of a long line of firms that have emerged from March’s market rout with cash in hand. A back of the envelop tally shows initially roughly $9 billion being gathered by an elite group of private debt players ready to be put to work in the space in the last few . . .
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