TCDRS approves $100m commitment

The US pension fund has backed Taconic Partners' latest European distressed debt vehicle.

Institution: Texas County and District Retirement System
Headquarters: Austin, US
AUM: $35.7 billion
Allocation to alternatives: 46.4%

Texas County and District Retirement System has agreed to commit $100 million to Taconic European Credit Dislocation Fund III, according to a recent investment activity report on the pension’s website.

Taconic Partners is currently in market targeting $800 million of LP capital for its third European property-focused distressed debt vehicle.

The $35.7 billion pension fund has a private debt target allocation of 29 percent which currently stands at 24.2 percent.

As illustrated below, TCDRS’s recent private debt fund commitments have targeted European and North American vehicles focused on either senior lending or acquiring distressed debt.

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