TCDRS approves $100m commitment

The US public pension has backed a North American corporate private debt fund.

Institution: Texas County and District Retirement System
Headquarters: Austin, United States
AUM: $33.40bn
Allocation to alternatives: 39.31%
Bitesize: $100-200m

Texas County and District Retirement System has agreed to commit $200 million to a separate account managed by Brigade Capital – TCDRS/Bridge Senior Tranche Fund (TX), a contact at the pension informed Private Debt Investor.

The $33.40 billion US public pension has a 25.0 percent target allocation to private debt that currently stands at 20.61 percent.

As illustrated below, TCDRS has made seven commitments to private debt funds with a 2019 or 2020 vintage, which combined constitute $1.05 billion.

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