Anne Arundel County approves $30m commitment

The US public pension has backed PIMCO's second distressed debt vehicle.

Institution: Anne Arundel County Retirement & Pension System
Headquarters: Annapolis, United States
AUM: $1.99 billion
Allocation to alternatives: 13.3%

Anne Arundel County Retirement & Pension System has approved a $30 million commitment to PIMCO Corporate Opportunities Fund III, according to minutes from the pension’s November 2020 retirement board meeting.

The $1.99 billion Maryland-based public pension is a repeat investor in PIMCO private debt funds, having previously committed $25 million to the manager’s 2018-vintage Private Income Fund.

As illustrated below, AA County’s recent private debt fund commitments have predominantly focused on subordinated/mezzanine and distressed debt vehicles in North America.

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