PIMCO Advisors today announced it will withdraw as a partner in...

PIMCO Advisors today announced it will withdraw as a partner in Columbus Circle Investors, allowing Columbus’ management to become the sole owners of the firm. PIMCO will continue to receive quarterly revenue-sharing payments from Columbus for an undisclosed period of time, as a portion of the unannounced sale price. The transaction is scheduled to be completed June 30. The new owners are CEO Donald Chiboucas and managing directors Robert Fehrmann, Marc Felman, Clifford Fox and Anthony Rizza. PIMCO owned the firm for about five years. Columbus Circle executives reportedly began negotiating with PIMCO to buy the firm after a reorganization by PIMCO stripped Columbus of the management of equity mutual fund assets. Columbus manages $4.5 billion in U.S. institutional tax-exempt assets.