Texas County pension taps lending, PE funds

Texas County & District Retirement System (TCDRS) in Austin rounded out its December meeting with its private markets annual plan after making two more private market allocations in late November.

The $31 billion system selected Ares Pathfinder Fund for a $100 million allocation within its direct lending portfolio, which includes funds managed by Angelo Gordon, Cerberus and Atalaya.

Within private equity, officials selected the Charlesbank Equity Fund X for a $75 million commitment. This fund, which invests in North American large and middle market companies, also received a recent allocation from Massachusetts PRIM.

Lastly, the TCDRS board adopted a clarifying amendment to the Investment Policy concerning the definition of co-investments. Further details on the definition were not disclosed.

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