TCDRS approves $250 commitment

The US public pension has backed a North American private debt fund.

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Institution: Texas County and District Retirement System
Headquarters: Austin, United States
AUM: $31.92bn
Allocation to alternatives: 36.55%
Bitesize: $100-200m

Texas County and District Retirement System has agreed to commit $250 million to ​Silver Point Specialty Credit Fund II, according to a recent report on the pension’s website. The fund is focusing on senior debt lending in North America.

The $31.92 billion public pension has a 25.0 percent target allocation to private debt that currently stands at 18.80 percent.

As illustrated in the table below, TCDRS is a repeat investor to Silver Point funds, having previously committed $50 million to Silver Point Specialty Credit Fund I and $100 million to Silver Point Distressed Opportunities Institutional Partners.

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