There’s something about Janus Capital’s Bill Gross that tends to stick around long after he’s gone. Let’s call it his essence. It does not wash off easily. Just ask his old company, perhaps at a meeting in its new Bill Gross Room. At last, however, Pimco is beginning to put its founder behind it, to the extent that it can.
The Newport Beach, Calif.-based firm said fourth-quarter operating profit rose 10% to €546 million ($682.9 million)—the highest since the third quarter of 2014 when Mr. Gross left Pimco amid management tensions and heavy outflows from his flagship bond fund.
Pimco’s recent recovery is at least partly driven by the performance of Mr. Gross’s replacement, Dan Ivascyn, analysts say.
The company he founded isn’t alone in trying to move on from Bill Gross. His ex-wife, Sue, best known for her taste in martinis, is also looking for a fresh start. Now, she’s not looking very far: She just spent $20 million on a house in Beverly Hills designed by the same architect who dreamed up the house in Beverly Hills she shared with her ex-husband from 2011 through 2016.
On just over a half-acre, the roughly 6,700-square-foot home was designed by architect Hal Levitt and completed in 1970, said listing agent Josh Flagg of Rodeo Realty, Beverly Hills. He called the home, which was in original condition, “a magnificent time warp.”
It should be noted that the buyer of this time capsule of 1970 married Bill Gross in 1985.