• Pugh Capital was founded with the goals of making a positive difference for our clients, our team and our communities. We seek to achieve these objectives with strong risk-adjusted returns and downside risk management for our clients and by using our firm’s success to support our communities both locally and nationally.


    • Although we’re growing steadily each year, our vision remains the same as it was when we started Pugh Capital in 1991. We’ve always looked to the future through several lenses: First, to be a diverse and independent fixed income firm that clients view as a strategic partner. Second, to remain rooted in our values. And third, to work with team members who share our values and who care about giving back.


    • We believe our continued success will be based on achieving our clients’ goals and demonstrating our values, which we describe as being POISED:

      • Passion for fixed income
      • Ownership mentality in all that we do
      • Integrity in our actions and interactions
      • Service to our clients, team members, and to our communities
      • Excellence aspire to excel, strive to improve
      • Diversity in our team and the perspectives we bring to our firm


In 1991, founding partners Mary Pugh and Scott Greiwe set out to create a diverse and independent institutional fixed income firm based in Seattle, Washington. Over the last 30 years, Pugh Capital has grown from one account and $5 million in assets under management to more than $10 billion in assets under management and a diverse national client base that includes some of the largest corporations, endowments, foundations and public pension plans in the United States.

The firm has broadened ownership to include members of the investment, operations, and marketing and client service teams. Pugh Capital has a diverse and experienced investment team who contribute their industry expertise and insight to our collaborative team based approach. As we look to the future, Pugh Capital remains committed to being an independent employee and founder owned firm specializing in active fixed income management for institutional clients.


We believe in an organic growth strategy that reinforces our core values.

  • Firm founded by Mary Pugh & Scott Greiwe with 1 account and $5 million in assets under management; mortgage product inception


  • Pugh Capital Launches Long Duration Strategy


  • Inception of the Core Fixed Income Strategy

  • Assets under management surpass $1 billion

  • Pugh Capital expands product line-up to include a Core Plus Strategy
  • Over $2 billion in assets under management

  • Pugh Capital surpasses $3 billion in assets under management

  • Firm celebrates 25 years in business

  • Over $5 billion in assets under management

  • $10 billion in assets under management

  • Celebrated 30 years in business



  • A diverse and experienced team specializing in active fixed income management
  • An institutional quality process that is nimble enough to capitalize on changing market dynamics
  • Our investment style seeks to exploit market inefficiencies to achieve client goals of risk management and risk adjusted returns.
  • An employee and founder owned firm with a foundation of commitment and responsibility


*Past performance is not a guarantee or a reliable indicator of future results. Investing involves risk; principal loss is possible. Investors should carefully consider risk when investing in bonds, which include, but are not limited to, default, credit rating, interest rate, duration, prepayment, liquidity, and structural risks.  There is no guarantee that investment strategies presented will work under all market conditions. Risk management processes cannot eliminate the risk of losses. Diversification does not assure a profit nor protect against loss in a declining market. Each investor should evaluate their ability to invest for the long-term, especially during periods of downturn in the market. Refer to the Legal & Disclosures section for additional disclaimers and disclosures regarding performance, risk, and investment process.

Information presented is for informational purposes only. It is not intended as investment advice. Nothing in this publication is a solicitation of any type. For U.S. institutional investors only.  Please review Pugh Capital’s Form ADV Part 2A for important information about risk, services offered, and fees, which is available upon request.  Please contact Deanna Hobson, Executive Vice President, Marketing & Client Service, at (206) 322-4985, or write Pugh Capital Management, 520 Pike Street, Suite 2900, Seattle, WA 98101, or info@pughcapital.com.