The head of the world's biggest bond investor is contributing $20-million to Los Angeles's Cedars-Sinai Medical Center in support of a new surgical building, reports the Los Angeles Times. The building, set to open next summer as part of the hospital's new Advanced Health Sciences Pavilion, will be named for donors Bill and Sue Gross.
Mr. Gross is the founder and co-chief investment officer of the Pacific Investment Management Co., commonly known as Pimco, and he manages its Pimco Total Return Fund, the world's largest bond fund. The new surgical center will bring together clinicians and researchers to pursue biomedical advances and speed their development into usable treatments.