Illinois State Universities Retirement System's board of trustees approved a commitment of $225 million to PIMCO Distressed Senior Credit Opportunities Fund III, a distressed debt opportunities fund managed by Pacific Investment Management Co., at its teleconferenced board meeting Friday.
The $17.8 billion Champaign, Ill.-based pension fund's actual allocation to credit fixed income was 14% as of March 31, according to its latest investment report.
Investment consultant Meketa Investment Group assisted.
