Texas County & District Retirement System, Austin, made its third commitment to distressed debt so far this year with $85 million going to Signal Capital Partners, said a transaction report for the $30.7 billion pension fund.
The commitment to Signal Alpha II Fund was from the pension fund's $720 million distressed debt portfolio.
Signal Capital Partners is a new manager for TCDRS.
The fund's portfolio managers will focus on investments in asset-backed corporate and real estate special situations deals in core European countries, according to Signal Capital's website.
Including the latest commitment to Signal Capital, as of Sept. 24, TCDRS investment officers have earmarked a total of $235 million to three distressed debt funds.
In all of 2019, the pension fund committed $150 million to one manager, transaction reports showed.