CFRS increases commitment to PIMCO fund

The US public pension has increased its commitment to a real estate debt fund.

Institution: City of Fresno Retirement Systems
Headquarters: Fresno, United States
AUM: $2.65 billion
Allocation to alternatives: 27.2%

City of Fresno Retirement Systems has increased its commitment to PIMCO Corporate Opportunities Fund III from $60 million to $80 million, a contact at the pension told Private Debt Investor.

The $2.65 billion public pension has an 8 percent target allocation to private debt that currently stands at 7.7 percent.

As illustrated in the charts below, CFRS devotes 27.2 percent of its full investment portfolio to alternative assets. The pension has a strong appetite for senior corporate debt funds that are North America-focused.

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