Newport Beach-based Pacific Investment Management Co. is expected to open its first Latin America office in Rio de Janeiro, Brazil in September.
It will be headed by Alec Kersman, a senior vice president who oversees the investment firm’s Latin America and Caribbean business.
Pimco is the world’s largest bond fund manager, with about $1.7 trillion in assets under management. The new office will operate as Pimco Latin America Administradora de Carteiras Ltda.
“Establishing an office in the region is a key step for Pimco’s Latin America and Caribbean efforts that will further enable us to get closer to our clients,” Kersman said.
Pimco has been pushing to increase its global presence. It sent Executive Vice President Ramin Toloui from Newport Beach to Singapore earlier this year to increase its focus on Asia-Pacific operations.