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Texas Employees commits $50 million to distressed debt fund

Texas Employees Retirement System, Austin, committed $50 million to distressed debt fund Castlelake V, a transaction report showed.

The $26.7 billion pension fund previously committed $100 million to Castlelake IV in 2015.

In 2017, the pension fund has committed a total of $352 million to five private equity co-investment vehicles and five commingled funds, including Castlelake V.