TCDRS approves $150m commitment

The US public pension has backed Davidson Kempner's fifth global distressed debt fund.

Institution: Texas County and District Retirement System
Headquarters: Austin, United States
AUM: $31.92bn
Allocation to alternatives: 36.55%
Bitesize: $100-200m

Texas County and District Retirement System (TCDRS) has agreed to commit $150 million to Davidson Kempner Long-Term Distressed Opportunities Fund V. The fund focuses on acquiring distressed corporate and real estate debt.

The $31.92 billion public pension has a 25.0 percent target allocation to private debt that currently stands at 18.80 percent.

As illustrated below, TCDRS is a repeat investor to this Davidson Kempner fund series, having previously committed a total of $165 million to the fund’s predecessors.

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