Pennsylvania Public School Employees' Retirement System, Harrisburg, hired PIMCO to run about $1 billion in multisector fixed income, confirmed Evelyn Tatkovski, spokeswoman for the $47.4 billion system.
The new portfolio will consist of investments in domestic core fixed income, international developed fixed income, domestic high-yield fixed income and emerging markets debt.
The portfolio was created by “folding in” a previously approved new commitment to Pacific Investment Management Co. of $650 million, funded by cash, and an existing portfolio managed by PIMCO worth $467 million as of Sept. 30, previously allocated to active domestic core fixed income.
No RFP was issued.
Separately, the system committed up to $100 million to Windjammer Senior Equity Fund IV, a private debt fund managed by Windjammer Capital Investors. The system previously committed $50 million to Senior Equity Fund III in 2005.
Also, the system committed up to $100 million to Senior Housing Partnership Fund IV, a real estate fund managed by Prudential Real Estate Investors.
