TCDRS Commits $100M to Private Credit

The Texas County & District Retirement System (TCDRS) on August 22 closed on a $100M commitment to private credit, according to information posted on its website.

The pension made the commitment to Alcentra Structured Credit Opportunities Fund V, a closed-end structured private credit strategy managed by London-based investment firm Alcentra. It follows on a $150M strategic credit investment to Irradiant CLO Opportunities Fund on August 7, as reported by Dakota.

TCDRS most recently made an allocation of $58M to growth equity fund ShoreView Capital Partners V on September 9.

According to Dakota data, TCDRS has a market value of $47B with a current allocation of 28.4% to private credit against a target of 29% as of year-end 2023.

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