Texas Municipal Commits $200M to Direct Lending Fund

The Texas Municipal Retirement System has increased its commitment to the TCW Brazos Direct Lending Fund by $200 million, bringing the total investment to $500 million.

According to meeting materials from the September 22 board meeting, “An increased commitment to TCW provides additional yield enhancement and diversification benefits with a manager that has a differentiated approach to sourcing loans at a yield premium to conventional loans underwritten by peers.”

The $35 billion Retirement System previously committed $300 million to the TCW fund in 2015.

Private markets consultant for the pension fund, Albourne, assisted with the recommendation.

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Written By: Koncheng Moua, Director of Data Management and Strategy

Koncheng Moua is the Director of Data Management and Strategy at Dakota.

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