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Recent Investment Activity
See our recent board activity and investment commitments.
Board of Trustees
March 2022
The board approved the 2022 capital market assumptions as recommended by Cliffwater and updated the investment policy to include the new assumptions. In accordance with the board’s policy to periodically assess legal counsel used for the review of investment contracts, the board approved retention of Jackson & Walker, Vinson & Elkins, DLA Piper, Chapman & Cutler, Foster Garvey, Hirschler Fleischer and Norton Rose Fulbright.
Past Board Meetings
December 2021
Cliffwater presented the 2022 private markets annual plan and the board amended the investment policy to clarify TCDRS’ capacity to invest in continuation vehicles. Cliffwater also presented a due diligence review report on the Bank of New York Mellon, and the board approved their continued retention as custodian.
September 2021
Cliffwater presented a due diligence review report on the investment managers for Investment Grade Bonds and TIPS, and the board approved retention of PGIM, Jennison, Dodge & Cox, and Western Asset.
June 2021
The board amended the TCDRS Investment Policy to synchronize the definition and investment guidelines for private equity co-investments.
About TCDRS
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recent investments
Commitments
Explore our most recent investment activity below, or use the dropdowns to search years’ past.
| Asset class | Closing/subs date | Manager name | Commitment | View archive |
| Hedge Funds | - | - | - | |
| Strategic Credit | - | - | - | |
| Distressed Debt | - | - | - | |
| Direct Lending | February 4, 2022 February 11, 2022 February 23, 2022 March 1, 2022 April 1, 2022 April 29, 2022 April 29, 2022 May 6, 2022 |
Crescent (TX) Direct Lending Fund, L.P. Cerberus Real Estate Debt Fund II, L.P. MGG SF Evergreen Fund LP Redwood Enhanced Income Corp Atalaya Asset Income Fund Evergreen L.P. Comvest Credit Partners VI, L.P. OrbiMed Royalty & Credit Opportunities IV, LP Accel-KKR Credit Partners II LP |
$150 Million $200 Million $150 Million $150 Million $100 Million $100 Million $150 Million $50 Million |
|
| Private Equity | January 12, 2022 January 12, 2022 January 12, 2022 January 21, 2022 January 26, 2022 January 27, 2022 January 27, 2022 January 28, 2022 February 3, 2022 February 3, 2022 February 18, 2022 February 18, 2022 March 16, 2022 March 31, 2022 April 8, 2022 April 14, 2022 April 14, 2022 April 15, 2022 April 25, 2022 April 25, 2022 April 28, 2022 April 29, 2022 May 13, 2022 May 13, 2022 |
Lightspeed Venture Partners XIV-A (Inception), L.P. Lightspeed Venture Partners XIV-B (Ignite), L.P. Lightspeed Venture Partners Select V, L.P. Hillhouse Venture Fund VI, L.P. New Enterprise Associates 18, L.P. CRV XIX, LP CRV Select Fund II, LP Threshold Ventures IV, L.P. Thoma Bravo Fund XV, L.P. Thoma Bravo Discover Fund IV, L.P. Shine Capital II, L.P. Shine Capital Opportunities Fund I, L.P. The Veritas Capital Fund VIII, L.P. Advent International GPE X Limited Partnership DCVC VI, L.P. Shine Capital II, L.P. Shine Capital Opportunities Fund I, L.P. Water Street Healthcare Partners V, L.P. CRV XIX, LP CRV Select Fund II, LP OpenView Venture Partners VII, L.P. OrbiMed Private Investments IX, LP Shine Capital II, L.P. Shine Capital Opportunities Fund I, L.P. |
$22.5 Million $27.5 Million $70 Million $46 Million $30 Million $35 Million $25 Million $85.7 Million $75 Million $75 Million $38.4 Million $19.26 Million $125 Million $100 Million $100 Million $10.7 Million $5.3 Million $85 Million $20 Million $5 Million $30 Million $70 Million $3.85 Million $1.93 Million |
|
| Private Real Estate | February 4, 2022 February 18, 2022 March 1, 2022 March 11, 2022 March 31, 2022 |
FCP Realty Fund V Co-Invest, L.P. KSL Capital Partners VI, L.P. FPA Apartment Opportunity Fund VIII, L.P. Marcus Capital Partners Fund IV, L.P. Aermont Capital Real Estate Fund V SCSp |
$50 Million $75 Million $75 Million $75 Million €70 Million |