Texas CDRS Commits $150M to OrbiMed Private Credit Fund

The Texas County & District Retirement System (CDRS) allocated $150M to OrbiMed’s fifth-generation direct lending fund, per updates to the pension’s investment data.

The pension closed its commitment to the healthcare fund on November 15. Per Dakota data, it is the retirement system’s second investment in direct lending, after it allocated $50M to Crescent (TX) Direct Lending Fund. Texas CDRS also recently made a $75M investment in middle-market buyout Linden Capital Partners VI, as reported by Dakota on November 18.

According to its website, Texas CDRS’s asset mix consists of a 29% policy allocation for its credit portfolio, with the direct lending subclass accounting for 16% of the asset’s target weight.

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Written By: Dakota

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