By Charles Stein
Pacific Investment Management Co. has acquired a minority stake in Beacon Platform Inc. 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.
This article was provided by Bloomberg News.