PIMCO Revenue and Competitors

Pacific Investment Management Company LLC (PIMCO) is an institutional money manager specializing in fixed income management, headquartered in Newport Beach, California. PIMCO was founded in 1971 as a subsidiary of Pacific Mutual Insurance Company (now known as Pacific Life) to expand the services of its parent to include separate account management of employee benefit plans, foundations and endowments. By 1982, PIMCO was operating completely independent from Pacific Mutual and located in separate premises. On May 5, 2000, Allianz AG (Allianz) of Munich, Germany purchased a majority stake in PIMCO\'s parent, PIMCO Advisors L.P., today known as Allianz Dresdner Asset Management of America L.P. (ADAM), leaving Pacific Life with a minority interest. As of January 1, 2004, Allianz owns approximately 90% of ADAM, leaving Pacific Life with approximately 10%. Under the terms of the 2000 purchase, Pacific Life can \'put\' its interest in ADAM to a subsidiary of Allianz AG. With the closing of the Allianz transaction in 2000, PIMCO became the global fixed income management leader for Allianz, though PIMCO operates as a separate, autonomous subsidiary.