The mutual-fund giant founded by you-know-who continues its transformation from fading mutual fund giant into the company that its new CEO used to run.

PIMCO, a leading global investment management firm, has entered into a joint venture with Solar Capital Partners as the firm continues to develop and expand its private credit platform….

PIMCO is a leading alternatives manager with more than $27 billion in alternative assets with a significant presence in private corporate credit across a range of strategies.

No need to mention the $1.48 trillion in non-alternative assets, because in no time PIMCO will be the Man Group by the Sea, and no one will even remember old what’s-his-name.

PIMCO forms joint venture with Solar Capital Partners [press release]