S2pocalypse Now & Pimco's Puppet Master
This week, we wade into the underbelly of big-ticket restructuring, looking at Pimco’s $1.8B lifeline on its disastrous bet on the Columbia Property Trust office portfolio, and how the lenders that stepped in after the default have set themselves up for a massive payday. The whole journey is a valuable lens into the opportunities available deep in the nethers of the capstack. Next, we have to revisit the saga of S2 Capital's Scott Everett, the GP who’s now declared that his $400M multifamily fund is a total loss– we sensed this was coming, but it still hits. We dive into both the business and…
The skinny
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