The Coral Gables (Fla.) Retirement System has allocated a total of $12 million to the Pimco Distressed Senior Credit Opportunities Fund II, Pensions & Investments reports. This is the first such commitment to distressed debt by the $270 million system.
The commitment came from part of the city's contribution to the system. The vehicle is the second opportunity fund of Pacific Investment Management Co. (Pimco), the global investment management firm with offices in 10 countries in North America, Europe and Asia.
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