TCDRS approves €100m commitment

The US public pension continues its relationship with an existing manager.

Institution: Texas County and District Retirement System
Headquarters: Austin, United States
AUM: $32.11bn
Allocation to alternatives: 39.31%
Bitesize: $50-100m

Texas County and District Retirement System has agreed to commit €100 million to MCP Private Capital Fund IV, according to the December report on the pension’s website. The fund, managed by Metric Capital Partners, will acquire senior debt in Western Europe.

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, TCDRS has previously invested in Metric Capital’s funds with commitments combined constituting €205 million.

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