Texas County & District Retirement System, Austin, committed $400 million in new or follow-on investments in 14 hedge funds this month, according to a transaction report on the $18.4 billion fund’s website.
The system made commitments to four new hedge funds, giving $18 million each to Brigade Leveraged Capital Structures Fund and Taconic Opportunity Fund; $50 million to Archipelago Partners; and $25 million to Canyon Value Realization Fund.
The system committed additional assets to the following hedge funds: Caxton Global Investments (USA), an additional $50 million for a total of $120 million; an additional $40 million each to Claren Road Credit Partners and Silver Point Capital Fund for a total of $80 million managed by each fund; Davidson Kempner Institutional Partners, $25 million more for a total of $55 million; $30 million more to Glenview Institutional Partners for a total of $50 million; $30 million more to Meditor European Master Fund for a total of $145 million; an additional $20 million each to Indus Asia Pacific Fund and Pershing Square for a total of $40 million for each fund; an additional $10 million to Viking Global Equities for a total of $140 million; and $25 million more to Wexford Spectrum Fund for a total of $115 million.
The Oct. 1 hedge fund commitments, combined with previous investments in the asset class, bring the Texas County & District system close to its 20% asset allocation target.
Separately, on Oct. 14, fund investment officials committed $40 million to Summit Partners Credit Fund, according to the online transaction report.
Paul J. Williams, investment officer for TCDRS, did not return a call seeking more information about the fund’s recent spate of commitments to hedge and credit funds.