Texas County & District Retirement System, Austin, invested an additional $50 million in an existing credit strategy managed by Canyon Capital Advisors for the $20.8 billion pension fund.
The new investment brings the total managed by Canyon for TCDRS in the residential mortgage-backed securities strategy to about $390 million, said Paul J. Williams, investment officer, in an e-mail. The investment was funded on Aug. 1.
TCDRS has invested a total of $350 million in opportunistic credit and direct lending strategies so far this year.
