Bill Gross is getting a boost from George Soros.
Soros Fund Management LLC has invested $500 million in a strategy run by Gross at Denver-based Janus Capital Group Inc. The money will be managed through a private investment vehicle named Quantum Partners LP, according to a Janus news release Thursday.
The money will be invested in a separate account, but will follow the strategy that Gross is employing in his Janus Global Unconstrained Bond fund, which has $443 million in assets under management.
Gross posted the news on Janus’ Twitter account, saying, “We are honored to be managing a new unconstrained strategic account for Soros Fund Management LLC.”
A spokesman for Janus didn’t return a request for additional comment.
Gross abruptly resigned as chief investment officer and co-founder of Pacific Investment Management Co. on Sept. 26, a move that sparked about $50 billion in outflows in his former flagship fund, the Pimco Total Return fund. Gross has so far captured only a fraction of that money in his new Janus fund.
Soros Fund Management is the family office for Soros, the 84-year-old financier and investor.
