Orange County Employees Retirement System’s investment committee committed up to $60 million in the OCP Asia’s Orchard Landmark direct lending fund.
Separately, OCERS placed Pacific Investment Management Co. on watch, said Robert Kinsler, spokesman for the $11.8 billion Santa Ana, Calif.-based pension fund.
OCERS had about $1.2 billion invested with PIMCO: $429 million in the All Asset All Authority Fund; $347 million in the Total Return Fund; and $243 million in the Unconstrained Bond Fund.
At the same time, the OCERS investment committee launched an exploratory search for a core-plus domestic fixed-income manager, which might or might not result in a replacement manager for PIMCO.
