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 $150 million-worth of private debt commitments in March 2021, according to the recent investment activity report on the pension’s website.
Previously, the US pension fund committed $75 million to Marblegate Asset Management‘s inaugural onshore fund. Alcentra is currently in market seeking $500 million of LP capital for its structured credit vehicle.
TCDRS has a private debt target allocation of 29 percent, which currently stands at 24.2 percent.
As illustrated below, the $35.7 billion US pension fund’s recent private debt commitments have primarily targeted North American senior debt origination and distressed debt vehicles.
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