Texas County & District Retirement System, Austin, committed an additional $100 million to Arbour Lane-TX, a customized strategic credit separate account, managed by Arbour Lane Capital Management, a transaction report showed.
The $30 billion pension fund previously committed $100 million to the separate account in August and also invested $150 million in the firm's special situations hedge fund, Arbour Lane Credit Opportunity Fund II, in May.
Including the most recent Arbour Lane commitment, TCDRS investment officers have quadrupled commitments to strategic credit to 11 funds totaling $1 billion year-to-date Dec. 5, compared to $250 million to two strategies in 2017.
In 2016, the pension fund committed $100 million to one fund and in 2015, a total of $350 million was committed to two funds, according to the pension fund's transaction archives.
