Texas County & District puts another $50 million with Sound Point

Texas County & District Retirement System, Austin, made its first alternative investment of 2017 on Jan. 1, committing an additional $50 million to Sound Point Credit Opportunities Fund, a transaction report showed.

The $25.6 billion pension fund's first investment in Sound Point Capital Management's hedge fund — $150 million — was made Nov. 1. The fund's managers make long and short investments in distressed bank debt.

The pension fund invested a total of $430 million in seven new and existing hedge funds in 2016.