00:00So what is this. Was were prices just attractive enough. Did something change about these loans that PIMCO decided to
00:06snap them all up.
00:07Definitely. Yeah it's a good question. And I think what we're seeing for private credit is a structure really matters.
00:12So so maybe he didn't think you know going out and buying individual private credit loans was a good opportunity.
00:17But oh look who else in the market with bonds for their BBC. Maybe that's a good chance for us
00:21to buy those and sort of mitigate some of the risks there but still be a player in the market.
00:25And I mentioned Goldman Sachs also doing the same to me to meet redemptions not buying but rather selling. So
00:30for these funds who are needing to meet their their redemptions even if it's in the case of Goldman just
00:34below that 5 percent gate.
00:36Are they finding a market that is receptive to that an easy time to get that liquidity. It seems like
00:41they are so far from what we've seen for the Blue Owl sale. It was the first in six weeks.
00:46So I think it was sort of a test of the market. But it's important to note that was their
00:50publicly traded BDC. So I think as some of these non traded BDCs come to the market we'll have to
00:55see how demand goes for them.
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