Texas County & District Retirement System, Austin, revealed its first private market commitment of the year — $85 million to direct lending fund CapitalSpring Investment Partners VI — according to a transaction report.
Investment officers of the $32.4 billion pension fund made the commitment to CapitalSpring, a new manager for TCDRS, on Jan. 1 from the retirement system's $3 billion direct lending portfolio.
CapitalSpring portfolio managers will focus on direct lending opportunities in the restaurant industry across North America.
In 2020, TCDRS committed a total of $867 million to eight direct lending funds managed by seven firms, a 2020 transaction report showed.
