PIMCO to launch vulture debt fund: WSJ

Pacific Investment Management Co., the mega bond fund in Newport Beach, plans to launch a $2 billion fund to invest in distressed debt, reports the Wall Street Journal online. Here's more: Pimco Distressed Mortgage Fund will invest in a variety of assets, including mortgage-backed securities, asset-backed securities and collateralized debt obligations, according to a Pimco document. [...]