Fresno County (Calif.) Employees' Retirement Association selected TCW Group's Metropolitan West Asset Management to manage $40 million in a Term Asset‐backed Loan Facility/credit dislocation strategy, said Douglas Kidd, retirement investment officer of the $4.7 billion pension fund, in an email.
The manager was hired at the board's Wednesday meeting.
The board approved the formation of an ad hoc committee to explore options for a TALF strategy in May.
Verus Advisory, the plan's investment consultant, assisted in the search.
