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Texas County & District targets another $25 million to direct lending co-investment

Texas County & District Retirement System, Austin, committed an additional $25 million to Crescent (TX) Direct Lending Co-Investment Fund, a transaction report on the $24.7 billion pension fund's website showed.

The pension fund previously committed $100 million to the same Crescent co-investment fund in 2013, said Paul J. Williams, chief investment officer, in an e-mail.

The direct lending fund is managed by Crescent Capital Group and focuses on providing secured financing options to U.S. companies in its private equity portfolios.

The latest direct lending commitment is the fund's second so far this year. In February, $100 million was committed to Blackstone Real Estate Debt Strategies III, according to the transaction report.