Texas County & District Retirement System, Austin, committed a total of $313 million to three alternative investment strategies, a transaction report from the $41.9 billion fund showed.
Investment officers committed $125 million from the system's $1.6 billion real estate portfolio to Carmel Partners Investment Fund VIII. Carmel Partners, an existing manager for TCDRS, will seek investment in multifamily properties.
Year-to-date Nov. 19, TCDRS committed a total of $794 million to seven real estate funds managed by seven firms, the 2021 transaction report showed. In all of 2020, the system committed $175 million to one real estate manager, according to last year's report.
From the system's $9.9 billion private equity/venture capital portfolio, TCDRS recently committed a total of $188 million to two existing managers.
Carnelian Energy Capital IV was awarded a $130 million commitment for investment in lower- to middle-market buyouts focused on North American upstream, midstream and oilfield services sectors.
Investment officers on the system's private equity team committed $58 million to GTCR Strategic Growth Fund I, a middle-market buyout fund.
As of Nov. 22, TCDRS committed a total of $2.3 billion to 26 private equity and venture capital firms running 33 strategies, compared to $2 billion managed in 32 strategies by 25 managers in all of 2020, transaction reports for both years showed.