Arini Capital gets bids from Pimco and Oaktree as flagship fund slides 26%

Arini Capital Management has received bids from asset managers Pacific Investment Management Co. (Pimco) and Oaktree Capital Management for some of its high‑yield debt holdings as the fund’s flagship hedge fund suffers a 26% loss this year. The London‑based firm, founded by former Credit Suisse trader Hamza Lemssouguer, has already sold positions in several large speculative‑grade companies and is in talks with dealers to offload more. Dealers say they are negotiating with prospective buyers but the talks remain private and no deal is guaranteed. Arini is focusing on selling its most liquid and performing assets to raise cash, with the debt of Sabre Corp cited as a recent example of such a sale. While Pimco and Oaktree declined to comment, an Arini spokesperson was also unavailable for comment. The flagship hedge fund managed about $7.5 billion as of July and is down roughly 26% through Oct 23, a decline linked to tighter global interest rates, higher energy prices and emerging AI‑related risks. The fund has never posted an annual loss before this year. Lemssouguer, 36, grew Arini from a $1 billion start in 2022 to a $21.7 billion credit‑trading operation, making it one of Europe’s fastest‑growing hedge funds. Earlier this month the firm raised $1.5 billion in new capital, already allocating more than $400 million. The fund remains open to additional cash from existing investors. ## Context High‑yield debt funds have faced pressure as borrowing costs rise worldwide, prompting managers like Arini to seek liquidity by selling assets and attracting fresh capital.