Texas County & District Retirement System, Austin, committed $150 million to Davidson Kempner Long-Term Distressed Opportunities Fund V, a transaction report showed.
Investment staff at the $31.9 billion defined benefit plan previously invested in or committed to several credit-oriented funds managed by Davidson Kempner Capital Management, including the prior fund in the firm's long-term distressed debt fund series.
The commitment to the current Davidson Kempner fund is TCDRS' first from the pension fund's $492 million distressed debt portfolio this year. In 2018, investment officers for the pension fund committed a total of $261 million to three distressed debt funds, transaction reports showed.
