Pimco Steers Clear of ‘Pretty Bad’ Private Credit Loans on Sale

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Private Credit:Pacific Investment Management Co. is staying away from loans being put up for sale amid the tumult in the $1.8 trillion private credit market because they’re “pretty bad,” according to its president Christian Stracke.As some funds look to offload assets to meet investor demand for redemptions, the prices being asked for the assets are still too high given the risk, Stracke said Wednesday in a Bloomberg TV interview. Pimco would need to see “high-teens” returns to get interested in what’s increasingly becoming a stressed- or distressed-type opportunity, he said.