New Mexico Educational Retirement Board, Santa Fe, committed $200 million to Pacific Investment Management Co.'s PIMCO Distressed Credit Opportunities Fund II and doubled its investment to $100 million to a GoldenTree CLO debt opportunity separate account, according to Bob Jacksha, chief investment officer for the $9.5 billion pension fundPacific Investment Managementillion to Pacific Investment Management Co.'s PIMCO Distressed Credit Opportunities Fund II and doubled its investment to $100 million to a GoldenTree CLO debt opportunity separate account, according to Bob Jacksha, chief investment officer for the $9.5 billion pension fund.
The PIMCO fund acquires “quality senior debt in liquidity-constrained hands that can be purchased at a discount to fair value,” Mr. Jacksha wrote in an e-mailed response to inquiries. The fund does not have a set maturity date.