Texas County & District Retirement System committed $100 million to Ares Pathfinder Fund II.
The $42.7 billion pension fund completed the commitment to the credit special situations fund managed by Ares Management on Sept. 29, according to an investment activity update on its website.
The pension fund previously committed $100 million to Ares Pathfinder Fund in 2020 and $500 million to Ares European Credit Strategies Fund X in 2018.
TCDRS' target allocation to credit is 29%.
Also in the activity update, the pension fund disclosed that it completed a follow-on commitment of $15 million to buyout fund Cortec Group Fund VIII on Oct. 3. The pension fund originally committed $60 million to the fund in May.
Its target allocation to private equity is 25%.