TCDRS approves $75m commitment and boosts allocation by 4%

The US public pension has backed a private debt fund, in line with new policy to increase investment in the asset class.

Institution: Texas County and District Retirement System
Headquarters: Austin, United States
Total AUM: $29.16bn
Allocation to Alternatives: 37.23%
Bitesize: $50-500m

TCDRS has agreed to commit $75 million to Canyon CLO Fund II. Additionally, the TCDRS Board of Trustees has increased target allocation to strategic credit by 4%. Information on both decisions can be found on TCDRS’ website.

The $29.16 billion public pension currently allocates 37.23% of its funds to alternatives.

As illustrated in the charts below, TCDRS now has a 25% target allocation to private debt that currently stands at 16.8%. The pension made 12 commitments to private debt funds with a vintage year of 2018, which combined constitute nearly $2.1 billion.

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