TCDRS confirms $100m commitment

The Austin-based public pension has backed Taconic Capital's latest distressed debt vehicle.

Institution: Texas County and District Retirement System
Headquarters: Austin, US
AUM: $35.7 billion
Allocation to alternatives: 49.2%

Texas County & District Retirement System has approved a $100 million commitment to Taconic CRE Dislocation Onshore Fund III, according to the investment activity reported on the pension fund’s website.

Taconic Capital is in market targeting $1 billion of LP capital commitments. In 2018, the fund manager sought $400 million for the predecessor fund. In March 2021, TCDRS committed $100 million to the fund manager’s European credit dislocation vehicle.

The $35.7 billion US pension fund has a private debt target allocation of 29 percent, which currently stands at 24.2 percent.

As illustrated below, TCDRS’s recent debt commitments have targeted various real estate and corporate debt strategies across North America and Europe.

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