Texas County & District Retirement System, Austin, committed $100 million from its $2.2 billion strategic credit portfolio to a customized separate account managed by Arbour Lane Capital Management, spokeswoman Kathy Thrift confirmed in an email.
The $30.2 billion pension fund's first engagement with the money manager was in May this year with a $150 million allocation to Arbour Lane Credit Opportunity Fund II, a special situations hedge fund.
Ms. Thrift did not provide specific details about the strategy Arbour Lane will use to manage the fund of one for TCDRS.
Including the latest Arbour Lane commitment, the pension fund's investment officials have committed $675 million to seven strategic credit strategies through the end of August compared to $250 million earmarked for two funds in 2017.
