Soros Invests $500 Million With Janus’ Gross

Nov 21 2014 | 1:09pm ET

The world’s most famous bond manager has won a big vote of confidence from one of the most famous hedge-fund managers in the world.

George Soros’ Quantum Partners has invested $500 million with Bill Gross, the Pacific Investment Management Co. co-founder who left that firm for Janus Capital Group in September. The money will be run as a managed account, mirroring the strategy Gross uses for his Janus Global Unconstrained Bond Fund.

The mandate was announced on Janus’ website, and Gross took to the firm’s Twitter account to thank Soros.

“I & my team will manage your new unconstrained strategic acct. 24h/day,” Gross wrote. “An honor to be chosen & an honor to be earned as well.”

The Quantum mandate more than doubles the amount managed by Gross’ new strategy; the Unconstrained Bond Fund had $442.9 million in assets at the end of October, $364 million of which was pledged during that month, Gross’ first full month at the helm.

The groundwork for Soros’ support was laid soon after Gross left PIMCO as his partners there planned to fire him. Soros Fund Management chief investment officer Scott Bessent visited Gross in Newport Beach, Calif., just a week after he joined Janus, according to published reports.

In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...


CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...