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PIMCO completes acquisition of Gurtin Municipal

Pacific Investment Management Co. LLC completed its acquisition of specialist municipal bond manager Gurtin Municipal Bond Management.

The combined company now manages $38 billion in dedicated municipal bond assets.

Gurtin will retain its San Diego and Chicago offices, and its investment team will continue managing the funds and separate accounts. Bill Gurtin, the company's founder, will remain with the company for several years to supervise its investment operations.