Texas County & District Retirement System, Austin, committed $100 million to Crescent Capital BDC from its direct lending portfolio, a transaction report on the $24.7 billion fund’s website showed.
The business development company, sponsored by private equity manager Crescent Capital Group, originates and invests in secured and unsecured debt and equity securities of U.S. middle-market companies.
The latest commitment brings the total TCDRS has committed to direct lending funds so far this year to $300 million, including a $25 million co-investment with Crescent Capital.
