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Newport Beach-based Pacific Investment Management Co. cofounder and Co-Chief Investment Officer Bill Gross and his wife, Sue, gave $50,000 to Laguna Beach homeless shelter program Friendship Shelter.

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The gift was made in honor of Shelter supporters Santina Davies and Paola Porrini-Bisson and will be used for various facility improvements, according to Friendship Shelter Executive Director Dawn Price.

Friendship Shelter provides services to homeless adults in South Orange County and has a Laguna Beach rehab shelter, transitional housing in San Clemente, and emergency shelter in Laguna Canyon.