Iowa Public Employees' Retirement System, Des Moines, “is evaluating several possible courses of action” regarding its $1.3 billion investment in a Pacific Investment Management Co. core-plus bond strategy following the departure of William H. Gross from the company, said Karl Koch, IPERS' chief investment officer, in an e-mail.
Mr. Koch was notified of Mr. Gross' departure on Friday morning, he said.
The $28 billion IPERS already has the PIMCO portfolio on watch, placing it under the review in January following the departure of Mohamed El-Erian, who was CEO and co-chief investment officer of PIMCO.
Mr. Koch said there were no further details to disclose at this stage.
