Texas County & District Retirement System, Austin, invested or committed a total of $55 million to two alternatives funds, according to a transaction report on the pension fund's website.
The $20.8 billion pension fund committed $45 million to H.I.G. Middle Market LBO Fund II, a middle-market buyout fund managed by H.I.G. Capital. It also invested $10 million in Lakewood Capital Partners, an opportunistic, value-oriented, long/short equity hedge fund managed by Lakewood Capital Management.
The pension fund committed a total of $105 million to three other H.I.G. funds in the past two years. It does not currently have any other investments with Lakewood.
Spokesman Russ Rhea could not be reached for additional information.