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Pimco May Shut Endowment FoF Unit

Pacific Investment Management Co. may be closing its unit that aimed to manage money for endowments and foundations.

Pacific Investment Management Co. (Pimco) may be closing its unit that aimed to manage money for endowments and foundations, Pensions & Investments reports. The group was established in 2010 under CEO and co-CIO Mohamed El-Erian.

Pimco’s fund-of-funds group was headed by Mark Taborsky, a former manager at Harvard Management Co.Blackrock had said last week it had hired Taborsky to head a similar unit.

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