The $35.7 billion Texas County & District Retirement System, Austin, committed $200 million to two alternative investment strategies, a transaction report showed.
Investment officers made their first 2021 commitment from the system's $918 million distressed credit portfolio with $100 million earmarked for Taconic European Credit Dislocation Fund III, from existing manager Taconic Capital Advisors.
In 2020, TCDRS committed $385 million to four distressed debt funds run by four managers.
From the system's $1.1 billion private real estate, $100 million was committed to SRE Opportunity Fund IV, managed by Singerman Real Estate, a new manager for the system.
With the addition of the new real estate fund, TCDRS has committed $145 million to two managers as of March 23.
Last year, the system made one commitment of $175 million to a real estate fund, a transaction report showed.