Pimco’s bond king and his wife donate $20 million to Cedars-Sinai

Cedars-Sinai Medical Center has named a new surgical center for Bill and Sue Gross after the couple made a $20-million gift toward the building.

Bill Gross is founder and co-chief investment officer at Pacific Investment Management Co. in Newport Beach. He manages the world’s biggest bond fund, the Pimco Total Return Fund.

“We wanted to make a gift to support a worthy Los Angeles-based healthcare institution. Cedars-Sinai’s mission resonated with us,” said Sue Gross, president of the Gross Family Foundation.

The new surgical center will be in the Advanced Health Sciences Pavilion, which is expected to open next summer at Cedars-Sinai. The building is designed to bring together clinicians and researchers to advance biomedical research and speed those discoveries into medical care.

In 2005, Bill and Sue Gross donated $20 million to Hoag Memorial Hospital Presbyterian in Newport Beach for a women’s health pavilion.

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