TCDRS approves $150m commitment to Davidson Kempner Long-Term Distressed Opportunities Fund V

The US public pension has backed Davidson Kempner's fifth global real estate debt fund.

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Institution: Texas County and District Retirement System
Headquarters: Austin, United States
AUM: $31.92bn
Allocation to alternatives: 36.55%
Bitesize: $50-100m

Texas County and District Retirement System (TCDRS) has agreed to commit $150 million to Davidson Kempner Long-Term Distressed Opportunities Fund V. The fund focuses on acquiring distressed corporate and real estate debt.

The $31.92 billion public pension has a 6.0 percent target allocation to real estate that currently stands at 2.57 percent.

As illustrated below, TCDRS is a repeat investor to this Davidson Kempner fund series, having previously committed a total of $165 million to the fund’s predecessors.

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