PIMCO to open third US office in Austin, Texas

Thu, 26 Apr 2018 21:40:32 +0000

Emmanuel Roman

PIMCO, one of the world’s premier fixed income investment managers, announces that it will open a new U.S. office in Austin, Texas. The new office will be led by Patrick Feigley, Executive Vice President and Head of U.S. Global Wealth Management Sales, and is likely to open in the summer of 2018. PIMCO currently has two offices in the U.S. – its headquarters in Newport Beach, California and an office in New York City.

“Austin will play an important part in PIMCO’s continued growth and we are excited to become part of this vibrant, innovative community,” said Emmanuel Roman, PIMCO’s Chief Executive Officer and Managing Director.

PIMCO will initially build up the office’s staffing level to around 200 employees by the end of 2019, with the majority of these being new hires. The office will have a significant technology presence but also other functions including U.S. Global Wealth Management, Institutional Client Management, Marketing and other business groups which may benefit from local talent pools.

“This office in Austin will enable us to expand our reach to clients, access new pools of talent and skills and build out our technological excellence and innovation across the firm globally,” said Mr. Feigley.

“Having PIMCO, one of the world’s premier investment management companies, choose Austin as a key part of their job growth and expansion strategy is a major win for our community,” said Gary Farmer, Chairman of Opportunity Austin, the prosperity initiative for the region. “It underscores the great qualities we have built through the years that make our region attractive to companies offering diverse employment options.”

Added Mr. Roman: “This office is one of many investments PIMCO is making to take advantage of opportunities in the asset management industry globally, including expansion in Asia-Pacific and additional resources in many areas including technology, talent management, compliance, ESG, private strategies, quantitative teams and traditional portfolio management.”

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PIMCO announces joint venture with Solar Capital Partners in Private Corporate Credit

Sun, 11 Dec 2016 20:35:23 +0000

Emmanuel Roman

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.

Solar Capital Partners is an experienced and highly respected investor in private corporate credit with a successful 10-year track record of making private loans to corporate borrowers. The firm also has an extensive network of relationships with middle market borrowers and private equity sponsors.

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. This joint venture is the result of collaboration between PIMCO and Solar Capital Partners that began in 2014.

Emmanuel Roman, PIMCO’s Chief Executive Officer said: “This joint venture is a continuation of the disciplined expansion of PIMCO’s alternatives’ strategies since 2004, where we have sought to capitalize on targeted market opportunities by leveraging PIMCO’s broad investment expertise and long-term performance focus.”

Dan Ivascyn, Group Chief Investment Officer of PIMCO added: “We believe the combination of Solar Capital Partners’ proven credit underwriting and relationships matched with PIMCO’s global credit investment experience creates a superior ability in sourcing, evaluating, and underwriting private investments. We believe that private credit is an attractive super-secular opportunity.”

Michael Gross, Co-Founder of Solar Capital Partners, said: “We are excited about expanding our partnership with PIMCO and the depth of resources they can bring to our investment process. We believe that a well-managed, private direct corporate lending strategy has the potential to provide an attractive risk-adjusted yield premium relative to public credit investments.” “Together with the two publicly-traded Business Development Companies that we manage, Solar Capital Ltd. and Solar Senior Capital Ltd., our joint venture with PIMCO can provide us with significant scale to deliver full solutions to our clients,” said Bruce Spohler, Co-Founder of Solar Capital Partners.

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PIMCO to open third US office in Austin, Texas

PIMCO announces joint venture with Solar Capital Partners in Private Corporate Credit

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.