Person to Watch: : WILLIAM THOMPSON
FINANCE – SPECIAL REPORT
by Rajiv Vyas
After building Newport Beach-based Pacific Investment Management Co.’s U.S. operations, Bill Thompson has his sights on Europe and Asia,markets he believes are ripe for growth.
Thompson, managing director and chief executive of the bond fund manager, said savings and retirement reforms are playing out in Europe and Asia, not unlike those that took place here several years ago.
“What that does is create a significant market,” Thompson said.
PIMCO has expanded its bond management operations in Munich, London and Tokyo by filling key positions in each country. It hired three portfolio managers and relocated a senior manager from Newport Beach to Germany. PIMCO’s parent, Allianz AG, is based in Munich.
PIMCO’s global expansion efforts started four years ago but now are paying off, according to Thompson. The company’s business outside the U.S. grew by half in 2001, a growth rate double that of its domestic business.
“I would expect our growth offshore over the next three to five years to continue to grow at double the rate of domestic growth rate,” Thompson said.
And there’s room to grow. Of PIMCO’s $240 billion in assets under management, 10% is handled for foreign clients.
,Rajiv Vyas
Firm to Watch: VERSANT VENTURES
FINANCE – SPECIAL REPORT
Versant Ventures heads into 2002 flush with $400 million in recently raised money for early stage healthcare deals.
The firm, with offices in Newport Beach and Menlo Park, has benefited from the shift toward healthcare and medical technology in the wake of the dot-com bust. Versant closed its second fund earlier this month and is set to start looking for deals next year.
“We would start investing the funds in the first quarter,” said Donald Milder, managing partner at the Newport Beach office of Versant Ventures.
Versant counts 26 companies in its first fund, which closed in 1999 and raised $270 million. Portfolio companies include: Laguna Hills-based Glaukos Corp., a startup working on an implantable Glaucoma treatment; San Clemente-based Cameron Health Inc. a seed-stage heart device developer; and Laguna Hills-based Cogent Healthcare Inc., which helps insurers and hospitals manage costs.
The second fund is expected to invest in some 40 biotech, medical device and healthcare service companies. Versant typically invests $9 million to $15 million in companies.
,Rajiv Vyas
