George Soros Injects Half Billion Dollars in Bill Gross
Bill Gross, a former Pimco chief who recently set up shop at Janus Capital, just received the amount of half billion dollars to manage from a hedge fund titan George Soros.
Soros
Fund Management LLC, which Soros chairs, has invested $500 million in
an account run by Gross at Janus Capital Group Inc, the Denver-based
firm said on its website on Thursday.
The
money will be managed through a private investment vehicle named
Quantum Partners LP and invested in a separate account, Janus said. The
portfolio will follow the strategy that Gross is employing in his Janus
Global Unconstrained Bond fund, which has $443 million in assets under
management.
Soros
Fund Management approached Gross after he resigned from Pimco in late
September, a person familiar with the situation said.
Source: Reuters
