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Texas County & District puts $100 million with Crescent Capital BDC

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.