Texas County & District Retirement System, Austin, committed $100 million to Taconic Market Dislocation Onshore Fund III, a transaction report for the $29.1 billion pension fund showed.
The fund is run by existing TCDRS manager Taconic Capital Advisors, whose portfolio managers will seek global investment opportunities resulting from the impact of the COVID-19 pandemic.
The Taconic commitment is the second from the pension fund's $686 million distressed debt portfolio as of Tuesday for an aggregate commitment of $150 million to the asset class.
In all of 2019, TCDRS investment officers committed $150 million to one manager for investment in distressed debt, a transaction report showed.
