Texas County & District Retirement System, Austin, made a second commitment this year to another fund from existing credit manager Taconic Capital Advisors for a total of $200 million, a transaction report from the $35.7 billion pension fund showed.
From the retirement system's $4.4 billion strategic credit portfolio, investment officers committed $100 million to Taconic CRE Dislocation Onshore Fund III whose portfolio managers will seek investments in opportunistic real estate debt. In March, TCDRS committed $100 million to Taconic European Credit Dislocation Fund III from the the pension fund's $918 million distressed credit portfolio.
Including the new Taconic commitment, as of April 9, the retirement system has committed a total of $150 million to two strategies run by two managers from the strategic credit portfolio, the pension fund's 2021 transaction report showed.
In all of 2020, TCDRS committed a total of $150 million to two strategic credit funds run by two managers, according to transaction report for that year.