Stanislaus County Employees' Retirement Association, Modesto, Calif., committed $25 million to Prima Mortgage Investment Trust, confirmed Rick Santos, the pension fund's executive director.
It is an open-end commercial mortgage-backed securities debt fund managed by Prima Capital Advisors. Funding is coming from reducing core fixed income; no managers will be terminated, Mr. Santos said.
Investment consultant Strategic Investment Solutions assisted the $1.7 billion pension fund.
