The $35.7 billion Texas County & District Retirement System made its first commitment of 2021 to strategic credit with $50 million going to Alcentra, a new manager for the system, a transaction report showed.
The allocation from the system's $4.4 billion strategic credit portfolio is to Alcentra Structured Credit Opportunities Fund IV. Alcentra's portfolio managers for the drawdown fund will seek investments in U.S. and European collateralized loan obligation markets.
In 2020, TCDRS investment officers committed a total of $150 million to two funds run by two managers, a transaction report showed.