Ventura County (Calif.) Employees' Retirement Association committed $25 million to PIMCO Aviation Income Partners II.
The $7.4 billion pension fund's board approved the commitment to the aircraft leasing joint venture investment vehicle managed by Pacific Investment Management Co. and High Ridge Aviation at its Oct. 23 meeting, said Dan Gallagher, chief investment officer.
VCERA previously committed $100 million to PIMCO Corporate Opportunities Fund IV in 2022.
As of Sept. 30, the pension fund's actual allocation to real assets was 4.9%; the target is 6%.
Investment consultant NEPC assisted.