PIMCO has raised $5.5 billion for private credit funds despite a hellacious March — and is telling investors its the best opportunity in a decade

· Credit funds, especially those with exposure to structured credit like mortgage-backed securities, were flattened in a disastrous March, and many were forced to sell at a loss to meet margin calls from banks.
· PIMCO's nearly $4 billion Tactical Opportunities fund lost roughly 15% in March, but was able to avoid forced...