Pacific Investment Management Company LLC (PIMCO) is an American

investment management Investment management (sometimes referred to more generally as financial asset management) is the professional asset management of various Security (finance), securities, including shareholdings, Bond (finance), bonds, and other assets, such as r ...

firm. While it has a specific focus on active

fixed income Fixed income refers to any type of investment under which the borrower or issuer is obliged to make payments of a fixed amount on a fixed schedule. For example, the borrower may have to pay interest at a fixed rate once a year and repay the pr ...

management worldwide, it manages investments in many asset classes, including

equities Stocks (also capital stock, or sometimes interchangeably, shares) consist of all the shares by which ownership of a corporation or company is divided. A single share of the stock means fractional ownership of the corporation in proportion t ...

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 fund A sovereign wealth fund (SWF), or sovereign investment fund, is a state-owned investment fund that invests in real and financial assets such as stocks, Bond (finance), bonds, real estate, precious metals, or in alternative investments such as ...

pension fund A pension fund, also known as a superannuation fund in some countries, is any program, fund, or scheme which provides pension, retirement income. The U.S. Government's Social Security Trust Fund, which oversees $2.57 trillion in assets, is the ...

corporation A corporation or body corporate is an individual or a group of people, such as an association or company, that has been authorized by the State (polity), state to act as a single entity (a legal entity recognized by private and public law as ...

s, foundations and endowments, as well as individual investors around the world. According to the

Sovereign Wealth Fund Institute The Sovereign Wealth Fund Institute (also SWF Institute, or simply SWFI) is an American corporation analyzing public asset owners such as sovereign wealth funds and other long-term governmental investors. Initially, the Sovereign Wealth Fund Ins ...

, PIMCO is the 6th-largest asset manager in the world by managed

AUM ''Om'' (or ''Aum''; ; , ISO 15919: ''Ōṁ'') is a polysemous symbol representing a sacred sound, seed syllable, mantra, and invocation in Hinduism. Its written form is the most important symbol in the Hindu religion. It is the ess ...

. PIMCO's headquarters are in

Newport Beach, California Newport Beach is a coastal city of about 85,000 in southern Orange County, California, United States. Located about southeast of downtown Los Angeles, Newport Beach is known for its sandy beaches. The city's harbor once supported maritime indu ...

, 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 Allianz Global Investors (commonly called AllianzGI or AGI), is a global investment management firm with offices in over 20 locations worldwide. It is owned by the global financial services group Allianz. Employing nearly 3,000, it manages over ...

manage around

€ The euro sign () is the currency sign used for the euro, the official currency of the eurozone. The design was presented to the public by the European Commission on 12 December 1996. It consists of a stylized letter E (or epsilon), crossed by t ...

2.5

trillion ''Trillion'' is a number with two distinct definitions: *1,000,000,000,000, i.e. one million 1,000,000, million, or (ten to the twelfth Exponentiation, power), as defined on the long and short scales, short scale. This is now the meaning in bot ...

of third-party assets. PIMCO is also the world's largest active ETF manager (as well as one of the first to introduce actively managed ETFs).

History

PIMCO initially functioned as a unit of

Pacific Life Pacific Life Insurance Company is an American insurance company. History Pacific Mutual Life was founded in 1868 by former California Governor, Leland Stanford in Sacramento, California. Stanford also was the first policy holder of the company. ...

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 Allianz SE ( , ) is a German Multinational corporation, multinational financial services company headquartered in Munich, Germany. Its core businesses are insurance and asset management. Allianz is the world's largest List of largest insurance ...

, a large global financial services company based in

Munich, Germany Munich is the capital and most populous city of Bavaria, Germany. As of 30 November 2024, its population was 1,604,384, making it the third-largest city in Germany after Berlin and Hamburg. Munich is the largest city in Germany that is no ...

, but the firm continues to operate as an autonomous subsidiary of Allianz. 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 The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of ...

Chairman Dr.

Ben Bernanke Ben Shalom Bernanke ( ; born December 13, 1953) is an American economist who served as the 14th chairman of the Federal Reserve from 2006 to 2014. After leaving the Federal Reserve, he was appointed a distinguished fellow at the Brookings Insti ...

as a senior advisor, following in the footsteps of predecessor Federal Reserve Chairman

Alan Greenspan Alan Greenspan (born March 6, 1926) is an American economist who served as the 13th chairman of the Federal Reserve from 1987 to 2006. He worked as a private adviser and provided consulting for firms through his company, Greenspan Associates L ...

Leadership

PIMCO appointed

Emmanuel Roman Emmanuel "Manny" Roman (born 27 August 1963) is a French financial executive. He is the chief executive officer (CEO) and a managing director of PIMCO, one of the world’s premier fixed income investment managers, based in Newport Beach, Cali ...

as CEO effective November 1, 2016. He succeeded Douglas M. Hodge, who was CEO from 2014 to 2016. According to PIMCO, 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 James Gordon Brown (born 20 February 1951) is a British politician who served as Prime Minister of the United Kingdom and Leader of the Labour Party (UK), Leader of the Labour Party from 2007 to 2010. Previously, he was Chancellor of the Ex ...

, former UK Prime Minister and former Chancellor of the Exchequer. *

Michèle Flournoy Michèle Angélique Flournoy (; born December 14, 1960) is an American defense policy advisor who served as deputy assistant secretary of defense for strategy under President Bill Clinton and Under Secretary of Defense for Policy, under secretar ...

, U.S. defense policy and national security expert, former U.S. Under Secretary of Defense for Policy. *

Raghuram Rajan Raghuram Govind Rajan (born 3 February 1963) is an Indian economist and the Katherine Dusak Merton Miller, Miller Distinguished Service Professor of Finance at the University of Chicago's Booth School of Business. Quote: "I am an Indian citizen ...

, former Governor of the Reserve Bank of India and Former Chief Economist at the International Monetary Fund. Apart from the board,

Dan Ivascyn Daniel John Ivascyn is group chief investment officer for PIMCO 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 in ...

the group chief investment officer (CIO)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.

Influence

Often referred to as a "Wall Street giant" and, more specifically, a "bond powerhouse," PIMCO commands significant influence in the financial industry, particularly in fixed income. The PIMCO Income Fund (NASDAQ:PIMIX) is the largest actively managed bond fund in the world. 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. Under Morningstar's rating system, 42 of PIMCO's mutual funds hold a 5-Star rating, and 90 funds hold a 4-Star rating. 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 Panama, officially the Republic of Panama, is a country in Latin America at the southern end of Central America, bordering South America. It is bordered by Costa Rica to the west, Colombia to the southeast, the Caribbean Sea to the north, and ...

, the Dominican Republic,

Saudi Arabia Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in West Asia. Located in the centre of the Middle East, it covers the bulk of the Arabian Peninsula and has a land area of about , making it the List of Asian countries ...

, 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.

Notable Employees

Notable former or current employees include: *

Mohamed A. El-Erian Mohamed Abdullah El-Erian (; born August 19, 1958) is an Egyptian-American economist and businessman. He is List of Presidents of Queens' College, Cambridge, President of Queens' College, Cambridge, and chief economic adviser at Allianz, the cor ...

* Bill H. Gross * John J. Studzinski * Richard Clarida *

Neel Kashkari Neel Tushar Kashkari
George W. Bush administration archives, February 27 ...

* Andrew Balls *

* Robert D. Arnott * Daniel Lacalle * Daniel Ivascyn * Jamil Baz * Ramin Toloui * Ng Kok Song * Jean-Claude Trichet

References

External links

*
Pacific Investment Management Company LLC Company Profile
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PIMCO to focus on global funds
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'' {{Authority control 1971 establishments in California 2000 mergers and acquisitions American companies established in 1971 Companies based in Newport Beach, California Exchange-traded funds Financial services companies based in California Financial services companies established in 1971 Investment management companies of the United States Asset management companies