updated with correction
Gregory Hazlett was named senior vice president and head of equity strategies and Andrew Hoffmann was named senior vice president and head of real asset strategies at PIMCO's newly established funds-of-funds group, confirmed PIMCO spokesman Mark Porterfield.
The positions are new.
Mr. Hoffmann was senior vice president at Brookfield Asset Management; Mr. Hazlett was CIO of Children's Hospital of Philadelphia. Spokesmen for both Brookfield and Children's Hospital could not be reached for comment.
PIMCO's upcoming funds-of-funds allocations will be made through public and private investment vehicles in multiple asset classes and with a tail risk hedging strategy, according to a PIMCO news release.
“PIMCO will allocate to internal managers, best-in-class external managers, direct and co-investments, and financial overlays and hedges in the management of its funds of funds,” according to the news release.
Separately, Mikael Angberg was named senior vice president and head of business development Nordics, said Michael Burns, executive vice president and head of PIMCO's Nordic business. The position is new. Mr. Angberg previously was head of Nordic institutional equity derivatives sales at investment bank BNP Paribas.