Texas County & District Retirement System made its first move into distressed debt so far this year, committing $75 million to Davidson Kempner Long-Term Distressed Opportunity Fund IV, a transaction report showed.
Previously, the $27 billion pension fund committed $75 million each to the second and third funds in the distressed debt fund series managed by Davidson Kempner Capital Management.
Investment staff of the Austin-based pension fund also have made regular commitments to another credit fund series from the manager: $50 million each was committed to Davidson Kempner Special Opportunities Fund II, III and IV, according to transaction reports.
In addition, TCDRS has invested about $300 million in Davidson Kempner Institutional Partners, a credit-oriented hedge fund.
