El Paso County Retirement Plan, Colorado Springs, Colo., hired Pacific Investment Management Co. to run $5 million in an unconstrained bond strategy, confirmed Tom Pfeifle, executive director of the $300 million pension fund.
The hire is pending final negotiations.
The new allocation will be funded by taking $2.5 million each from Loomis Sayles' core-plus bond strategy and PIMCO's total-return portfolio, Mr. Pfeifle said in a telephone interview. The pension fund went with the unconstrained strategy to try to get more yield in the bond portfolio, he added.
Watershed Investment Consultants assisted.