US - Pacific Investment Management Co., manager of the world's largest mutual fund, raised more than $1.5bn for a private pool to buy assets from banks looking to strengthen their balance sheets, according to two people with knowledge of the fundraising.
The Pimco Bravo fund, short for Bank Recapitalization and Value Opportunities, will buy debt such as troubled commercial and residential mortgages, and may invest directly in banks through securiti...
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