Ventura County (Calif.) Employees' Retirement Association committed $100 million to PIMCO Corporate Opportunities Fund IV.
The $6.8 billion pension fund's board approved the commitment to the private credit fund managed by Pacific Investment Management Co. at its meeting on Monday, said Dan Gallagher, chief investment officer, in an email.
VCERA previously committed $50 million to PIMCO Credit Opportunities Fund III in 2020.
Separately, the board on Monday approved a follow-on commitment of $10 million to private credit fund Pantheon Credit Opportunities Fund II. VCERA's board originally approved a commitment of $40 million to the fund in June.
As of Sept. 30, VCERA's actual allocation to private debt was 4.9%; the target is 8%.
Investment consultant NEPC assisted.
