Texas County & District Retirement Fund, Austin, committed a total of $200 million to alternative investment funds, a transaction report showed.
The $28.6 billion fund committed $100 million to Summit Partners Credit Fund III, after previously committing $50 million to the second fund in the series and $40 million to the first fund. The fund will continue to employ the same high-yield debt, middle-market lending strategy.
TCDRS has also committed to various other Summit Partners venture capital and private equity funds.
With the inclusion of the latest Summit Partners commitment, the pension fund has committed a total of $1.3 billion to five direct lending strategies year-to-date.
The pension fund also committed $100 million to BPE Asia Real Estate Fund II, a real estate debt fund managed by Baring Private Equity Asia, a new manager for TCDRS.
The pension fund has now committed a total of $340 million to four private real estate funds in 2017.