The New Mexico Educational Retirement Board has allocated $200 million to PIMCO’s credit opportunities fund, Pensions & Investments reports. The PIMCO Distressed Credit Opportunities Fund II does not have a set maturity date.
The vehicle buys quality senior debt in liquidity-constrained hands that can be acquired at a discount to fair value. Separately, the $9.5 billion scheme has committed $100 million to a GoldenTree CLO debt opportunity separate account.
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