Institution: Texas County and District Retirement System
Headquarters: Austin, US
AUM: $35.7 billion
Allocation to alternatives: 46.4%
Texas County and District Retirement System has approved a $100 million commitment to Taconic European Credit Dislocation Fund III, according to a recent investment activity report on the pension’s website.
The fund manager is currently in the market seeking $800 million in LP capital for its third European opportunistic vehicle focused on acquiring distressed property debt. TCDRS previously committed $100 million to Taconic‘s North American Dislocation Fund III in August 2020.
The $35.7 billion pension fund currently has a 6 percent target allocation to private real estate which currently stands at 3.1 percent.
As illustrated below, TCDRS’s recent private real estate commitments have predominantly targeted North American and European opportunistic vehicles.
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