Texas pension adds direct lending and private equity strategies

Texas County & District Retirement System (TCDRS) allocated $275 million to direct lending and private equity strategies in recent weeks.

The largest allocation was for $150 million to Oak Street Real Estate Capital Fund V, within TCDRS’ direct lending program, which is included in the $30 billion system’s 25% allocation to credit strategies. Oak Street Real Estate Capital is a minority and women-owned firm based in Chicago.

According to recently released return data, the pension fund had gains of 10.1% within direct lending in 2019, a year that saw six mandates in . . .

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