Seattle City Employees' Retirement System committed $40 million to PIMCO Private Income Fund, said Jason Malinowski, chief investment officer, in an email.
The $3 billion pension fund's board approved the commitment to the evergreen private credit fund managed by Pacific Investment Management Co. at its meeting Thursday.
PIMCO currently manages $269 million in active core fixed income and $151 million in active global equities for the pension fund.
As of June 30, the actual allocation to credit fixed income was 7%, equal to its target.
