Texas County & District Retirement System, Austin, disclosed a total of $611 million in alternative fund commitments in a recent activity report on its website.
Within direct lending, the $41.7 billion pension fund committed $250 million to Silver Point Specialty Credit Fund III, a private credit fund managed by Silver Point Capital, and $100 million to evergreen private credit fund Pathlight Capital Evergreen Fund.
The pension fund previously committed $200 million to Silver Point Specialty Credit Silver Star Fund and $100 million to Pathlight Capital Fund II, both in 2021.
The pension fund's target allocation to direct lending is 16%.
Within private equity, TCDRS committed €105 million ($111 million) to WPEF IX Feeder 1, a buyout fund managed by Waterland Private Equity Investments.
The pension fund previously committed €90 million to WPEF VIII Feeder in 2020.
TCDRS' target allocation to private equity is 25%.
Within real estate, the pension fund committed $75 million to FCP Realty Fund VI-B, a value-added real estate fund managed by Federal Capital Partners.
The pension fund previously committed $50 million to FCP Realty Fund V Co-Invest earlier this year.
TCDRS' target allocation to private real estate is 6%.
Finally, within strategic credit, the pension fund committed $75 million to Irradiant CLO Partners Fund III, a credit fund managed by Irradiant Partners. It is the pension fund's first recorded commitment to the manager.
TCDRS' target allocation to strategic credit is 9%.
