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PIMCO takes minority stake in fintech company Beacon Platform

Pacific Investment Management Co. LLC entered into a strategic partnership with financial technology company Beacon Platform Inc., which specializes in the development of cloud-based, end-to-end development and production platforms.

Under the partnership, PIMCO will own a minority stake in Beacon and will license its platform. PIMCO will integrate the platform with its valuation models, risk analytics and technology, and will deploy the platform to its portfolio managers globally.