Pimco Readies for a Fight to Grab Private Credit Bargains

Pimco has a history of making chunky contrarian bets. Now it’s saying that cracks in the red-hot asset class of private credit could appear as early as this year—and that it plans to use roughhouse tactics more common to hedge funds to grab bargains. If it turns out to be right, this booming $1.7 trillion market is about to get a grueling reality check.