PIMCO raises $1.3bn

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Pacific Investment Management Co. (PIMCO) has raised $1.3 billion for its PIMCO Corporate Opportunities Fund II, according to a SEC filing. The Newport Beach-headquartered firm began fundraising in 2016 with an undisclosed target.

Investors that committed to PIMCO Corporate Opportunities Fund II include the Ohio State Highway Patrol Retirement System, the Texas Municipal Retirement System and the Metropolitan Government of Nashville and Davidson County Employees' Benefit Trust Fund.

The fund will target subordinated/mezzanine debt opportunities in a diverse number of properties in North America.