Humbled bond manager Bill Gross just got a vote of confidence from one of the most successful investors of all time.
Janus Capital Management announced Thursday that Quantum Partners, a private investment vehicle managed by Soros Fund Management, has invested $500 million in a separate account managed by Gross.
The account will pursue a similar strategy to the publicly accessible Janus Global Unconstrained Bond Fund, which managed just $442.8 million as of Oct. 31, according to Janus. Pimco managed $1.87 trillion firmwide as of Sept. 30.
"We are honored to be managing a new unconstrained strategic account for Soros Fund Management," Gross said in two tweets Thursday. "I & my team will manage your new unconstrained strategic acct. 24h/day. An honor to be chosen & an honor to be earned as well."
Soros Fund Management is the private investment vehicle for George Soros , a so-called family office. The billionaire investor had run a hedge fund firm by the same name. Soros is worth an estimated $24 billion, according to Forbes . A spokesman for Soros did not immediately respond to a request for comment.
Gross famously joined Janus after leaving Pimco on Sept. 26, some 43 years after he helped turn the firm into a major player in the fixed income space, particularly through its Total Return Fund , which remains the largest bond fund in the world despite hemorrhaging money for the past year and a half or so.