Texas County & District adds $50 million to Beach Point credit strategy

Texas County & District Retirement System, Austin, committed an additional $50 million to Beach Point TX SCF, an opportunistic credit separate account managed by Beach Point Capital Management, a transaction report showed.

The pension fund initially committed $200 million to the separate account in July 2017.

The Beach Point commitment is the first this year to opportunistic credit by the investment team of the $28.6 billion pension fund.

TCDRS committed a total of $250 million to two opportunistic credit strategies in 2017, including the Beach Point commitment, and committed $100 million to one fund in 2016, according to transaction reports.