A new PIMCO fund has secured seed capital from Fleming Family & Partners, The Wall Street Journal reports. The Pimco Capital Securities Fund will invest in high yield debt issued by banks, including contingent convertibles market, as well as existing tier one debt, adds Investment Week. The Dublin-domiciled vehicle will be managed by PIMCO’s executive vice president and head of European credit, Philippe Bodereau. The amount of seed capital committed has not been disclosed.
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