Searches and Hires

Texas County & District commits $125 million to private equity, distressed debt

Texas County & District Retirement System, Austin, committed a total of $125 million to two managers, a transaction report showed.

Investment officers of the $30.2 billion pension fund committed $100 million to Hellman & Friedman Capital Partners IX.

TCDRS previously committed or invested a total of $137 million to the three previous funds in Hellman & Friedman's family of large buyout private equity funds.

With the addition of the latest Hellman & Friedman fund, TCDRS has earmarked a total of $792 million to 13 strategies as of Oct. 1. In 2017, the pension fund committed an aggregate $1.24 billion to 25 private equity funds.

Separately, $25 million was committed to Redwood Opportunity Domestic Fund from TCDRS' $2.2 billion strategic credit portfolio. The commitment is the pension fund's first to stressed/distressed debt specialist Redwood Capital Management.

Year-to-date Oct. 1, the pension fund has committed a total of $700 million to eight strategic debt funds compared to $250 million to two funds in 2017.