Pimco expects to raise at least $3 bln for new distressed-debt fund- Bloomberg News

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(Reuters) – Pacific Investment Management Co (Pimco) is expecting to raise at least $3 billion for its largest-ever distressed-debt fund, Bloomberg news reported bloom.bg/3aWLySB on Thursday, citing people familiar with the matter.

The new fund will focus on stressed and distressed debt as well as companies with limited access to capital, according to the report.

Pimco, one of the world’s largest investment firms, did not immediately respond to Reuters’ request for comment.

Reporting by Anurag Maan in Bengaluru; Editing by Shinjini Ganguli

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