New Mexico Educational Retirement Board, Santa Fe, committed $100 million to PIMCO Corporate Opportunities Fund IV.
The $14.9 billion pension fund's board approved the commitment to the opportunistic credit fund managed by Pacific Investment Management Co. at its Dec. 9 meeting, Bob Jacksha, chief investment officer, said in an email.
The board committed $150 million to PIMCO Corporate Opportunities Fund III in 2020.
As of Sept. 30, the actual allocation to opportunistic credit was 18%; the target is 16%.
