The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Pimco's About-Face Raises Eyebrows Not Rated 3.3 Email Routing List Email & Route  Print Print
Thursday, July 09, 2009

Pimco's About-Face Raises Eyebrows

by: Armie Margaret Lee

On Wednesday, the Treasury revealed the identities of the nine money managers for its Public-Private Investment Program, Pimco's was a no-show on the list. It turns out that Pimco yanked its PPIP application in early June due to "uncertainties regarding the design and implementation of the program," the Los Angeles Times' Tom Petruno reported, quoting a Pimco statement.

The Newport Beach, California-based firm did not give specifics.

One theory making its way around Wall Street, Petruno reported, is that Pimco, despite being known as a savvy bond investor, was not successful with its first foray into buying troubled mortgage-backed bonds in 2007. This episode could have triggered concerns within the firm that it might not be able to raise the minimum $500 million seed capital from investors that's required for a PPIP manager under the Treasury's rules.

Managers who made it to the Treasury's list include: AllianceBernstein and sub-advisors Greenfield Partners, LLC and Rialto Capital Management, LLC; Angelo, Gordon & Co., L.P. and GE Capital Real Estate; BlackRock; Invesco; Marathon Asset Management; Oaktree Capital Management, RLJ Western Asset Management; The TCW Group; and Wellington Management Company. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use