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, PDI's sister publication, PERE, reported on Thursday.

Gregory Hall will start 1 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 include real estate, distressed, opportunistic and credit strategies in private equity vehicles.

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 on November 1, 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 capitalise on opportunities for investors who are increasingly looking for expertise in private strategies to meet their investment goals.”

In real estate, PIMCO held an interim close on Monday for its latest fund, PIMCO Bank Recapitalization and Value Opportunities Fund III, on $1.5 billion, PERE previously reported. The firm is targeting between $3 billion and $4 billion for the fund, which it is investing in private and public debt and equity.

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