PIMCO hires former Blackstone exec

The new executive will oversee PIMCO’s private strategies.

PIMCO has tapped a former Blackstone executive as its head of private strategies, the firm said on Thursday.

Gregory Hall will start in May and split his time between the firm’s Newport Beach, California, headquarters and its New York office. He will oversee PIMCO’s private strategies, which in the words of the firm comprise “real estate, distressed, opportunistic and credit strategies in private equity vehicles.” It is unclear whether these vehicles include conventional private equity strategies and PIMCO's spokespeople were unavailable to comment at press time.

Hall is taking over some of Jen Bridwell’s duties, a source with knowledge of the transition said. In 2015, Bridwell, the global head of PIMCO’s alternative products, announced she would retire.

Hall previously co-led Blackstone’s hedge fund seeding business, which he left in September after 12 years, according to his LinkedIn profile. Prior to his time at Blackstone, Hall worked at investment bank Goldman Sachs.

In his new role, Hall will report to Emmanuel Roman, who took over as chief executive in November, a spokesman said.

“Greg is an exceptional executive who is a tremendous addition to PIMCO’s outstanding team of product managers, portfolio managers, analysts and others focused on our private strategies,” Roman said in a statement. “His leadership skills and industry expertise will be invaluable as PIMCO continues to capitalize on opportunities for investors who are increasingly looking for expertise in private strategies to meet their investment goals.”

PIMCO managed $1.5 trillion in assets as of December 31, with 2 percent of its portfolio invested in alternatives, according to its most recent investment report.