Searches and Hires

Texas County & District earmarks $200 million for 2 funds

Texas County & District Retirement System, Austin, made two new commitments totaling $200 million, according to a transaction report on its website.

The $29.7 billion pension fund committed $125 million to Sound Point Strategic Capital Fund, a strategic credit fund managed by Sound Point Capital Management. The pension fund had previously committed a total of $200 million to Sound Point Credit Opportunities Fund.

It is the pension fund's second strategic credit commitment of 2018, bringing the year's total to $225 million. The pension fund previously committed an additional $100 million to Beach Point TX SCF, an opportunistic credit separate account managed by Beach Point Capital Management. The pension fund had initially committed $200 million to the separate account in July 2017.

Also, the pension fund committed $75 million to KSL Capital Partners V, a buyout fund targeting investments in the global travel and leisure sector. The pension fund committed $40 million to KSL Capital Partners IV in December 2014.