PIMCO will take a minority stake in Beacon and license its cloud-based platform NEWPORT BEACH, Calif., May 10, 2018 (GLOBE NEWSWIRE) — 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… continue reading
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Source: CTRM Center