LP Tearsheet

TCDRS approves $125m commitment

The US public pension has backed Blackstone's life sciences sector-focused direct lending fund.

By
Muhammad Humzah Obaid
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Institution: Texas County and District Retirement System
Headquarters: Austin, United States
AUM: $32.11bn
Allocation to alternatives: 32.31%
Bitesize: $100-200m

Texas County and District Retirement System has agreed to commit $125 million to Blackstone Life Sciences V, according to the pension’s December 2019 investment news.

The $32.11 billion US public pension has a 25.0 percent target allocation to private debt that currently stands at 20.61 percent.

As illustrated below, Texas County has made five commitments to private debt funds with a 2019 vintage, which combined constitute $786 million.

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