LBO companies face debt restructuring risk – Pimco's Jessop
The executive vice-president and portfolio manager at Pimco talks about the asset manager’s plan to broaden its high yield offering, and where he sees the current risks and opportunities in that market.
Andrew Jessop joined Pimco last November after 12 years at Goldman Sachs Asset Management, where he helped build its high yield business from scratch.
On top of his day-to-day responsibilities managing $23.6 billion in dedicated high yield portfolios (including three mutual funds and bespoke portfolios for institutional clients), Jessop was hired to help Pimco become, in his words, “a more representative player in the part of the market where we have relatively small market share”.
Achieving
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