Bill Gross to manage $500 million for George Soros

George Soros - Festival Economia 2012

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.

Read More Pimco is pulling down rest of the bond market

"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.

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