Texas County & District Retirement System, Austin, committed a total of $250 million to two existing alternative investment managers, a transaction report from the $43.9 billion system showed.
Cerberus Capital Management received a $200 million commitment to Cerberus Real Estate Debt Fund II from the system's $4.8 billion direct-lending portfolio.
With the addition of the Cerberus fund, the system committed a total of $350 million to direct lending as of Feb. 11. In 2021, investment officers committed a total of $1.6 billion to 13 money managers running 16 direct-lending strategies, the transaction report for that year showed.
From the system's $1.8 billion real estate portfolio, the investment team's first commitment of 2022 was $50 million to FCP Realty Fund V Co-Invest, managed by Federal Capital Partners. The system committed $125 million to FCP Realty Fund V in June 2021.
In all of 2021, the pension fund committed a total of $789 million to seven real estate firms managing seven strategies, the transaction report from that year showed.