Since the Incora deal made the headlines, there have been some interesting tidbits of info on PIMCO's increasingly active distressed and special sits team. They appear to have revamped their team in the US (heard about some senior hires from KKR's special sits team as well as from Elliott) and in Europe (brought in the former head of alt credit at Och-Ziff/ Sculptor). All in all, even headhunters now describe them as Tier 1 in distressed, whatever that means.
Since there's no specific thread on them, I was hoping to hear more about them - deals they're looking at, recruitment MO, what backgrounds they search for and culture, ideally in Europe/ London but overall as well.
Definitely a fast growing area at PIMCO, last I checked they had $48B in private credit and special situations investments. Read on another thread they're trying to build an analyst layer through their newly established internship role to support the senior VPs and PMs. Seems to be on par with other MF credit arms like KKR/BX credit in terms of exit opps and comp.
Big distressed player nowadays along with GSAM. Their big AUM allows them to play across the capital structure through private placement as well as secondary market
Completely incorrect
Kinda like when Franklin is involved in every distressed debt deal lol...its not always by choice