Pimco has acquired a minority stake in Beacon Platform and will use the company’s technology to deliver quantitative research and analytics to its money managers around the world.
Pimco, in a statement Thursday, described Beacon as a specialist in the development of cloud-based, end-to-end development and production platforms. The technology will be used to support the fixed-income giant’s 240 portfolio managers globally.
Acquiring talent and technology to gain an investing edge is a major focus for Pimco, CEO Manny Roman said in an interview last month with Bloomberg News.
Pimco, which is based in Newport Beach, California, in April chose Austin, Texas, for a new office as it seeks to recruit tech talent and broaden marketing in the U.S.