TCDRS approves $150m in commitments

The US pension fund has backed two North American private equity funds.

Institution: Texas County and District Retirement System
Headquarters: Austin, US
AUM: $35.7 billion
Allocation to alternatives: 49.2%

Texas County & District Retirement System has confirmed $150 million-worth of private equity commitments in March 2021, according to the pension’s recent investment activity report.

The commitments comprised of $100 million to Marblegate Partners Onshore Fund II and $50 million to Alcentra Structured Credit Opportunities Fund IV. TCDRS has previously committed $75 million to Marblegate‘s maiden onshore fund. Alcentra is currently in market seeking $500 million of LP capital for its fourth structurred credit vehicle.

The $35.7 billion US pension has a private equity target allocation of 25 percent, which currently stands at 19.1 percent.

As illustrated below, TCDRS’s recent commitments have targeted private equity vehicles that focus on a variety of strategies, sectors and regions.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.