Texas County & District Retirement System, Austin, committed a total of $210 million to two alternative investment strategies, a transaction report for the $33.4 billion pension fund showed.
Investment officers earmarked $100 million to the pension fund's first strategic credit commitment of the year for investment in Brigade Senior Tranche Fund (TX) from the pension fund's $3.9 billion strategic credit portfolio. The fund is a separately managed account, run by existing manager Brigade Capital Management, confirmed spokesman Russ Rhea in an email.
In 2019, TCDRS committed a total of $925 million to six strategic credit funds run by six managers.
Also, existing private equity manager H.I.G. Capital, received a €100 million ($110 million) commitment to H.I.G. Europe Middle Market LBO Fund.
Including the H.I.G. Capital commitment, TCDRS' investment team committed a total of $490 million to seven private equity/venture capital managers running seven funds.
In 2019, the pension fund committed a total of $1.2 billion to 28 strategies managed by 27 managers, transaction reports showed.