Texas County & District Retirement System, Austin, disclosed two commitments totaling $225 million.
The $49.7 billion pension fund disclosed its Nov. 15 commitment of $150 million to OrbiMed Royalty & Credit Opportunities V, a private credit fund that invests in healthcare royalty rights managed by OrbiMed Advisors, and a Nov. 13 commitment of $75 million to middle-market buyout fund Linden Capital Partners VI in an investment activity update on its website.
TCDRS previously committed $150 million to OrbiMed Royalty & Credit Opportunities IV in 2022 and $85 million to Linden Capital Partners V in 2021.
As of Sept. 30, the pension fund’s actual allocations to private equity and direct lending were 26.2% and 14.2%, respectively; their respective targets are 25% and 16%.
