Nashville (Tenn.) & Davidson County Metropolitan Government Employee Benefit Trust Fund disclosed manager hires and commitments totaling up to $120 million.
The $3.4 billion pension fund hired MC Credit Partners to manage $100 million in a direct lending separate account and committed up to $20 million to PIMCO Corporate Opportunities Fund III, a corporate distressed credit fund managed by Pacific Investment Management Co., said Fadi BouSamra, chief investment officer, in an email.
The pension fund committed $100 million to PIMCO Private Income Investment Fund in 2019 and up to $40 million to PIMCO Corporate Opportunities Fund II in 2016.
As of June 30, the actual allocation to fixed-income alternatives was 19.2%; the target is 15%.
