TCDRS approves $500m commitment

The US public pension has backed a European direct lending fund.

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Institution name: Texas County and District Retirement System
Headquarters: Austin, Texas
AUM: $30.01bn
Allocation to alternatives: 31.13%

Texas County and District Retirement System has finalised a commitment of $500 million to Ares European Credit Strategies Fund X. The direct lending fund invests across Europe and is managed by Ares Management.

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