SOURCE: PIMCO

November 17, 2008 11:43 ET

The PIMCO Foundation Donates to Help Those Affected by Southern California Fires

NEWPORT BEACH, CA--(Marketwire - November 17, 2008) - The employees of PIMCO have kicked off a fund-raising effort to aid people and communities affected by the devastating Southern California fires. Working through the PIMCO Foundation, the Newport Beach-based firm's charitable arm, employees delivered an initial check for $25,000 Monday to the Red Cross of Orange County to support its efforts to provide temporary shelter, food and clothing to evacuees.

"We at PIMCO are extremely saddened by these devastating fires that have disrupted so many lives and destroyed so many homes, communities and businesses around Southern California," said Mohamed El-Erian, PIMCO Co-CEO and a member of the PIMCO Foundation board. "With this donation and our ongoing efforts, we are committed to help our neighbors in this extremely difficult period."

About the PIMCO Foundation

The PIMCO Foundation is committed to helping individuals, families and communities when they need it most. In addition to helping those affected by natural disasters and other tragedies, the foundation aims to reward individuals and groups that are committed to improving communities, education and the planet. Since it was founded in 2001, the PIMCO Foundation has awarded nearly $5 million in grants to charities and community organizations throughout California and the US.

About PIMCO

PIMCO, founded in 1971, is a global investment management firm serving a wide range of institutional and retail investors worldwide. With offices in nine countries in North America, Europe and Asia, we manage investments across a broad spectrum of global financial markets. Our success is built on our philosophy of seeking to consistently deliver attractive returns while maintaining a strong culture of risk management. PIMCO is owned by Allianz Global Investors, a subsidiary of the Munich-based Allianz Group, a leading global insurance company.

Contact Information

  • Contact:
    The PIMCO Foundation
    Mark Porterfield
    949-720-GIVE
    www.pimco.com