Texas County & District Retirement System, Austin, committed $25 million to existing manager 400 Capital Management for investment in a direct-lending strategy, a transaction report showed.
The $38.1 billion fund's commitment is to 400 Capital TX COF II, a separately managed portfolio, spokesman Russ Rhea confirmed in an email.
Previously, TCDRS committed $300 million to 400 Capital TX COF I, another separate account, in 2019.
With the addition of the latest commitment to 400 Capital, TCDRS has committed $560 million to eight funds managed by eight firms from the system's $3.5 billion direct lending portfolio so far this year.
In 2020, the system committed $867 million to seven direct lending funds from seven money managers, a 2020 transaction report showed.