PIMCO Announces Strategic Partnership with Beacon Platform Incorporated
Newport Beach, California (May 10, 2018) – PIMCO, a leading global investment management firm, has entered into a strategic partnership with Beacon Platform Incorporated, a financial technology company specializing in the development of cloud-based, end-to-end development and production platforms. As part of the partnership, PIMCO has acquired a minority stake in Beacon and will license the Beacon platform to aid in delivering quantitative research and analytics to PIMCO portfolio managers globally.
Beacon’s platform allows investment firms to build their proprietary analytical models and tools in a controlled, secure environment connected to relevant market and enterprise data. PIMCO will integrate the platform with its valuation models, risk analytics and technology. The platform will be deployed globally to deliver proprietary models developed in-house by PIMCO’s quantitative analysts and technologists and will support the firm’s 240 portfolio managers around the world.
“Quantitative models and technology are integral to PIMCO’s investment process and this strategic partnership with Beacon will allow us to continue to innovate and evolve as the industry changes,” says Emmanuel Roman, PIMCO’s Chief Executive Officer. “Our portfolio managers around the world will have broad access to Beacon’s platform for faster and more efficient use of PIMCO’s proprietary risk analytics and quantitative research, helping them implement investment strategies to deliver attractive returns for our clients.”
Beacon co-founders Kirat Singh and Mark Higgins added: “We’re excited to partner with PIMCO at a time when a seismic shift in technology has created opportunities to better access and deploy analytical investment models. Beacon’s modern software platforms give forward-thinking firms like PIMCO the ability to adapt and thrive as the pace of innovation continues to accelerate.”
PIMCO’s partnership with Beacon is part of the firm’s broader strategic efforts to further integrate technology and quantitative research into our investment process. PIMCO recently announced it will open an office in Austin, Texas later this year, in part to recruit talented technologists to advance the firm’s underlying investment-related infrastructure.
PIMCO is one of the world’s premier fixed income investment managers. With our launch in 1971 in Newport Beach, California, PIMCO introduced investors to a total return approach to fixed income investing. In the 45+ years since, we have continued to bring innovation and expertise to our partnership with clients seeking the best investment solutions. Today we have offices across the globe and 2,150+ professionals united by a single purpose: creating opportunities for investors in every environment. PIMCO is owned by Allianz S.E., a leading global diversified financial services provider.
Beacon is a financial technology company that delivers a cloud-based, end-to-end development and production platform. With Beacon's open architecture, transparent source code, and automated infrastructure solutions, clients can build in-house functionality on a platform that has been proven at some of the largest financial institutions in the world. We give financial and quantitative developers the tools they need so that they can focus on the business rather than plumbing and process. And for business users, we deliver fully integrated applications for analytics, pricing, risk management, and more.
Except for the historical information and discussions contained herein, statements contained in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the performance of financial markets, the investment performance of PIMCO's sponsored investment products and separately managed accounts, general economic conditions, future acquisitions, competitive conditions and government regulations, including changes in tax laws. Readers should carefully consider such factors. Further, such forward-looking statements speak only on the date at which such statements are made. PIMCO undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements.