PIMCO, a global investment management firm, announced on Friday its strategic partnership with Beacon Platform Incorporated, a fintech company that specializes in the development of cloud-based, end-to-end development and production platforms. PIMCO reported as part of the partnership it has acquired a minority stake in Beacon and will license the Beacon platform to aid in delivering quantitative research and analytics to PIMCO portfolio managers globally.
“Quantitative models and technology are integral to PIMCO’s investment process and this strategic partnership with Beacon will allow us to continue to innovate and evolve as the industry changes. Our portfolio managers around the world will have broad access to Beacon’s platform for faster and more efficient use of PIMCO’s proprietary risk analytics and quantitative research, helping them implement investment strategies to deliver attractive returns for our clients.”
PIMCO also revealed that Beacon’s platform currently allows investment firms to build their proprietary analytical models and tools in a controlled, secure environment connected to relevant market and enterprise data. Beacon co-founders Kirat Singh and Mark Higgins also commented:
“We’re excited to partner with PIMCO at a time when a seismic shift in technology has created opportunities to better access and deploy analytical investment models. Beacon’s modern software platforms give forward-thinking firms like PIMCO the ability to adapt and thrive as the pace of innovation continues to accelerate.”
PIMCO added its partnership with Beacon is part of its broader strategic efforts to further integrate technology and quantitative research into its investment process. PIMCO recently announced it will open an office in Austin, Texas later this year.