Texas County & District Retirement System, Austin, committed $250 million to a direct lending fund run by existing manager Antares Capital.
The commitment from the $32.1 billion pension fund's $2.2 billion direct lending portfolio is to Antares Credit Opportunities MA V. The pension fund's previous commitment to the manager was $195 million to Antares Unitranche Feeder Fund I (DE) in February 2018.
Including the most recent Antares commitment, TCDRS investment officers this year have committed a total of $850 million to five direct lending funds as of Dec. 17. In all of 2018, the pension fund committed a total of $995 million to five direct lending funds.
