CFRS increases commitment to PIMCO fund

The US public pension has upped its commitment to the real estate debt fund to $80m.

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Institution: City of Fresno Retirement Systems
Headquarters: Fresno, US
AUM: $2.65 billion
Allocation to alternatives: 27.20%

City of Fresno Retirement Systems has increased its commitment to PIMCO Corporate Opportunities Fund III from $60 million to $80 million, a contact at the pension told PERE.

The $2.65 billion public pension has an 11 percent target allocation to real estate that currently stands at 10.50 percent.

As illustrated below, CFRS devotes 27.20 percent of its full investment portfolio to alternative assets. The pension has a strong appetite for diversified opportunistic funds that are North America-focused.

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