PIMCO
{{Short description|American investment management firm}}
{{Infobox company
| name = Pacific Investment Management Company LLC
| logo = Image:PIMCO Logo.svg
| image = PimcoHQCloseup.jpg
| image_caption = PIMCO headquarters at 650 Newport Center Drive in Newport Beach, California
| type = Limited liability company
| founders = Bill Gross
Jim Muzzy
Bill Podlich
| key_people = {{unbulleted list|Emmanuel Roman (CEO)| Dan Ivascyn (CIO)}}
| industry = Financial services
| services = Investment management
| aum = {{US$|2.0 trillion|link=yes}} (March 31, 2022)
| owner =
| parent = Allianz SE
| slogan =
| foundation = {{start date and age|1971}}
| location_city = Newport Beach, California
| location_country = U.S.
| homepage = {{URL|https://www.pimco.com/}}
}}
Pacific Investment Management Company LLC (PIMCO) is an American investment management firm. While it has a specific focus on active fixed income management worldwide, it manages investments in many asset classes, including fixed income, equities and other financial assets across public and private markets. PIMCO is one of the largest investment managers, actively managing more than $2 trillion in assets for central banks, sovereign wealth funds, pension funds, corporations, foundations and endowments, as well as individual investors around the world. According to the Sovereign Wealth Fund Institute, PIMCO is the 6th-largest asset manager in the world by managed AUM.{{cite web |url=https://www.swfinstitute.org/fund-manager-rankings/asset-manager |website=SWFI |title=Top 100 Asset Manager Managers by Managed AUM - SWFI }}
PIMCO's headquarters are in Newport Beach, California, near the Pacific Ocean. The firm has over 3,100 employees working in 22 offices throughout the Americas, Europe, and Asia. PIMCO and Allianz Global Investors manage around €2.5 trillion of third-party assets.{{cite web|url=https://www.allianzcapitalpartners.com/de/how-we-invest/allianz-advantage|title=The Allianz Advantage|website=www.allianzcapitalpartners.com}} PIMCO is also the world's largest active ETF manager (as well as one of the first to introduce actively managed ETFs).{{cite web |title=Who We are |url=https://www.pimco.com/en-us/our-firm |website=PIMCO |access-date=24 January 2024}}
History
PIMCO initially functioned as a unit of Pacific Life Insurance Co., managing separate accounts for that insurer's clients. The firm was founded in 1971, launching with $12 million of assets. In 2000, PIMCO was acquired by Allianz SE, a large global financial services company based in Munich, Germany, but the firm continues to operate as an autonomous subsidiary of Allianz.{{cite news |url=https://www.ft.com/content/ed4c62ce-d988-11e0-b16a-00144feabdc0 |title=Allianz's decision on Pimco raises eyebrows |date=11 September 2011 |work=Financial Times |first=Dan |last=McCrum |url-access=limited}}{{cite news |url=https://www.reuters.com/article/allianz-pimco/update-2-pimco-gains-greater-autonomy-in-allianz-revamp-idUSL5E7K61UF20110906 |title=PIMCO gains greater autonomy in Allianz revamp |date=6 September 2011 |work=Reuters |first1=Jennifer |last1=Ablan |first2=Harro |last2=Ten Wolde}}
On September 26, 2014, it was announced that Bill Gross, co-founder and former chief investment officer (dubbed the "Bond King" in the investment arena), was stepping down to join Janus Capital Group. In April 2015, PIMCO announced the hire of former Federal Reserve Chairman Dr. Ben Bernanke as a senior advisor, following in the footsteps of predecessor Federal Reserve Chairman Alan Greenspan.{{Cite web|date=29 April 2015|title=Pimco recruits ex-Federal Reserve chairman Ben Bernanke|url=https://www.theguardian.com/business/2015/apr/29/pimco-recruits-ex-federal-reserve-chairman-ben-bernanke|access-date=23 July 2018|website=The Guardian}}
Leadership
PIMCO appointed Emmanuel Roman as CEO effective November 1, 2016.{{cite news|author=Gittelsohn John|date=20 July 2016|title=Pimco Names Man Group's Chief Emmanuel Roman as Its New CEO|agency=Bloomberg News|url=https://www.bloomberg.com/news/articles/2016-07-20/pimco-names-man-group-s-chief-emmanuel-roman-as-its-new-ceo}} He succeeded Douglas M. Hodge, who was CEO from 2014 to 2016.{{Cite news|title=Pimco: The man who replaced Mohamed|url=https://www.ft.com/content/3d727128-a06d-11e3-a72c-00144feab7de|newspaper=Financial Times|date=28 February 2014 |access-date=2020-05-27}} According to PIMCO,{{cite web |title=Global Advisory Board |url=https://www.pimco.com/us/en/about-us/global-advisory-board |website=PIMCO |access-date=9 May 2025}} the members of their global advisory board members are:
- Joshua Bolten, President and CEO of the Business Roundtable and former White House Chief of Staff.
- Gordon Brown, former UK Prime Minister and former Chancellor of the Exchequer.
- Michèle Flournoy, U.S. defense policy and national security expert, former U.S. Under Secretary of Defense for Policy.
- Raghuram Rajan, former Governor of the Reserve Bank of India and Former Chief Economist at the International Monetary Fund.
Apart from the board, Dan Ivascyn{{Mdash}}the group chief investment officer (CIO){{Mdash}}broadly oversees portfolio management and investment strategy. There are also five other CIOs: Andrew Balls, CIO Global Fixed Income; Mark Kiesel, CIO Global Credit; Mohit Mittal, CIO Core Strategies; Marc Seidner, CIO Non-traditional Strategies; and Qi Wang, CIO Portfolio Implementation.{{cite web|title=Firm Leadership|url=https://www.pimco.com/en-us/our-firm/firm-leadership/|website=PIMCO|access-date=September 9, 2018}}
Influence
Often referred to as a "Wall Street giant" and, more specifically, a "bond powerhouse,"{{Cite web|url=https://www.wsj.com/finance/investing/bond-rout-stirs-broader-fears-about-market-strains-18eca23a?mod=Searchresults_pos1&page=1|title=Bond Rout Stirs Broader Fears About Market Strains|first=Gregory Zuckerman and Sam|last=Goldfarb|website=WSJ}} PIMCO commands significant influence in the financial industry, particularly in fixed income.{{cite web |last1=Stokes |first1=Samantha |title=Wall Street giants like JPMorgan and Pimco are walking back their environmental pledges after years of outspoken support for fighting climate change |url=https://www.businessinsider.com/wall-street-giants-jpmorgan-pull-back-climate-initiatives-2024-2 |website=Business Insider |publisher=Business Insider}}{{cite web |last1=Youing |first1=Lauren |title=Should Bond Powerhouse Pimco Jump into Stocks? |url=https://www.bloomberg.com/news/articles/2009-10-18/should-bond-powerhouse-pimco-jump-into-stocks |publisher=Bloomberg}} The PIMCO Income Fund (NASDAQ:PIMIX) is the largest actively managed bond fund in the world.{{cite news |last1=Mackenzie |first1=Michael |title=Pimco's Ivascyn Warns of 'Too Much Enthusiasm' on 2024 Rate Cuts |url=https://www.bloomberg.com/news/articles/2023-11-15/pimco-s-ivascyn-warns-of-too-much-enthusiasm-on-2024-rate-cuts |website=Bloomberg |date=15 November 2023 |publisher=Bloomberg |access-date=24 January 2024}}
According to data from Morningstar, PIMCO oversees a substantial portion of the world's largest actively managed bond funds, with three out of the top ten funds under its management, including the largest.{{cite web |last1=Lynch |first1=Katherine |title=How the Largest Bond Funds Did In Q3 2023 |url=https://www.morningstar.com/markets/how-largest-bond-funds-did-q3-2023 |website=Morningstar |date=5 October 2023 |access-date=5 October 2023}} Under Morningstar's rating system, 42 of PIMCO's mutual funds hold a 5-Star rating, and 90 funds hold a 4-Star rating.{{cite web |title=PIMCO-Morningstar |url=https://www.morningstar.com/asset-management-companies/pimco-BN000009NK |publisher=Morningstar}}
In 2025, PIMCO had already privately lent nearly $6 billion to emerging market borrowers in 2025 - primarily governments. The firm has provided loans or privately structured bonds to countries including Panama, the Dominican Republic, Saudi Arabia, and Qatar. Emerging market governments are increasingly turning to private credit for more flexible borrowing options amid volatile market sentiment and the lingering effects of being shut out of capital markets during crises like the COVID-19 pandemic. Demand for these investment-grade private debt opportunities is high, particularly among U.S. insurance companies, which are seeking safer alternatives in light of equity market volatility.{{Cite news |date=April 2, 2025 |title=PIMCO steps up private lending to emerging market governments |url=https://www.reuters.com/markets/pimco-steps-up-private-lending-emerging-market-governments-2025-04-02/}}
Notable Employees
Notable former or current employees include:
References
{{Reflist|refs=
{{cite news | author=Childs, Mary | date=2 December 2014 | title=Pimco Total Return Withdrawals Slow to $9.5 Billion | work=Bloomberg Businessweek | location=United States | url=http://www.businessweek.com/news/2014-12-02/pimco-total-return-withdrawals-slow-to-9-dot-5-billion | archive-url=https://archive.today/20141207213931/http://www.businessweek.com/news/2014-12-02/pimco-total-return-withdrawals-slow-to-9-dot-5-billion | url-status=dead | archive-date=December 7, 2014 }}
{{Cite news | title=Bill Gross Leaves Pimco for Janus | author=Grind, Kirsten | author2=Calia, Michael | work=The Wall Street Journal | department=Markets | date=26 September 2014 | url=https://online.wsj.com/articles/bill-gross-leaves-pimco-for-janus-1411736217 }}{{subscription required}}
}}
External links
{{Commons category}}
- {{official|https://www.pimco.com/}}
- [http://biz.yahoo.com/ic/41/41978.html Pacific Investment Management Company LLC Company Profile]—Yahoo! Finance
- [https://www.bloomberg.com/apps/news?pid=20603037&sid=aCobIVlnyzsY PIMCO to focus on global funds]—Bloomberg News
- [https://online.wsj.com/articles/SB10001424052702303636404579393131430361274 "Inside the Showdown Atop PIMCO"]—The Wall Street Journal
{{Allianz}}
{{Major asset management companies}}
{{Hedge funds}}
{{Authority control}}
Category:1971 establishments in California
Category:2000 mergers and acquisitions
Category:American companies established in 1971
Category:Companies based in Newport Beach, California
Category:Exchange-traded funds
Category:Financial services companies based in California
Category:Financial services companies established in 1971
Category:Investment management companies of the United States