West Palm Beach (Fla.) Firefighters' Pension Fund committed $5 million to PIMCO Distressed Senior Credit Opportunities Fund III, a distressed debt opportunities fund managed by Pacific Investment Management Co., said Brendan Vavrica, senior consultant at AndCo Consulting, the $238 million pension fund's investment consultant, which assisted with the commitment.
As of June 30, the pension fund's actual allocation to alternative investments was 7.8%; the target is 8%.
