Oklahoma Firefighters Pension & Retirement System has approved a $50 million commitment to Bank Recapitalization and Value Opportunities Fund IV (BRAVO IV), a closed-end opportunistic fund managed by Pacific Investment Management Co.
PIMCO Bravo IV opened to investors in January but did not disclose a fundraising target. The fund will invest in debt secured by real estate in the United States and Europe.
PIMCO first launched its BRAVO fund series in 2011, raising $2.4 billion for the first fund, BRAVO I. In 2013, PIMCO raised $5.5 billion for its second fund, BRAVO II, and $4.18 billion for BRAVO III in 2018, according to a document from Pennsylvania Public School Employees’ Retirement System, which invested in BRAVO III.
