PIMCO Hires Apollo Vet as Global CFO of Alternatives

PIMCO Hires Apollo Vet as Global CFO of AlternativesPIMCO has traditionally been known as a fixed-income specialist and a dominant force within the global bond markets. Indeed, the firm’s co-founder Bill Gross was once anointed “Bond King” by the financial media, a title he ceded to DoubleLine’s Jeffrey Gundlach prior to Gross’s high-profile departure from the firm.

PIMCO is unquestionably still a force to be reckoned with in fixed income, but the firm has been making strides in the equity and alternative investment categories in the time since Gross left PIMCO for Janus Capital. Last month, PIMCO announced its plan to launch six new equity mutual funds, as covered in a June 29 DailyAlts article. Now the firm has hired John Lane, formerly Apollo Investment Group’s CFO of Private Equity and Real Estate, as its new Executive Vice President and Global Chief Financial Officer of Alternatives.

“We are thrilled to have John join the PIMCO alternatives team,” said Jay Jacobs, Managing Director and PIMCO President, in a recent statement. “His expertise in managing the financial infrastructure for alternative platforms will further strengthen PIMCO’s position as a premier manager of hedge fund, real estate and private credit strategies.”

In his new role, Mr. Lane will manage PIMCO’s global alternatives finance team of 20 professionals. Since 2004, PIMCO has grown its alternatives platform from a single hedge-fund strategy to eight distinct strategies with more than $23 billion in assets under management. PIMCO’s seven alternatives launched over the past eight years each specialize in real estate and private equity strategies, Mr. Lane’s fortes.

Mr. Lane’s experience in the world of finance dates back more than two decades. In moving from Apollo to PIMCO, he’ll be working out of PIMCO’s Newport Beach office and reporting directly to Mr. Jacbos.

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