Investors - JUNE 26, 2020

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Ohio School Employees joins other U.S. pension funds in backing PIMCO DISCO III

by Kali Persall

The $14 billion School Employees Retirement System (SERS) of Ohio has approved a commitment of $50 million to the PIMCO Distressed Senior Credit Opportunities Fund (DISCO) III, according to a May investment document.

The investment was made on behalf of Ohio SERS’ opportunistic portfolio,

Launched in January, PIMCO Disco III is a debt fund managed by Pacific Investment Management Co. The fund’s predecessor, PIMCO DISCO II, focused on senior and super-senior structured securities, including commercial mortgage–backed securities, credit default swaps and collateralized debt obligations. PIMCO DISCO II closed on more than $2.5 billion in capital commitments.

Other investors in PIMCO’s third debt fund were the Illinois State Universities Retirement System, which approved a $225 million commitment

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