Texas pension boosts distressed debt, PE exposure
The $34 billion Texas County & District Retirement System in Austin continues its steady boost to REITS, private equity and distressed debt as trustees move forward with $485 million in fresh commitments over the last few weeks.
The largest commitment totaled $175 million to Starwood Distressed Opportunity Fund XII Global LP, within the pension fund’s private real estate portfolio. The firm’s global opportunistic fund series has historically been diversified based on geography and product type and has been focused on distressed debt, value-add income assets, corporate transactions and land/development opportunities.
Within . . .
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