Newport Beach, California (January 2, 2019) – PIMCO, one of the world’s premier fixed income investment managers, has completed its acquisition of Gurtin Municipal Bond Management (Gurtin), a specialist municipal bond manager serving high and ultra-high net worth individuals. The combined business manages $38 billion in dedicated municipal bond assets and offers clients a more extensive and enhanced suite of strategies and services, backed by broader muni credit research and quantitative analysis, enhanced technology and outstanding client service.
“We are thrilled to complete the acquisition of Gurtin which combines our client-focused cultures to create a muni platform which offers institutions, RIAs and individual investors a comprehensive suite of muni strategies and services,” said Emmanuel Roman, PIMCO’s Chief Executive Officer.
“It was important to me that if we ever sold our firm it would be to a partner that shares our commitment to excellence and similarly felt that client interests come first. The fact that our clients were overwhelmingly supportive of our transaction validates that PIMCO is just that firm, making this an exciting time for Gurtin clients and employees,” said Bill Gurtin, Founder of Gurtin.
To ensure continuity for Gurtin clients, the firm will maintain its San Diego and Chicago offices, and its investment team will continue managing its funds and separate accounts. Mr. Gurtin will continue to be involved in the business for several years to oversee existing investment operations and support the combined business.