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Recent Investment Activity
See our recent board activity and investment commitments.
Board of Trustees
September 2023
In accordance with board policy, the investment consultant, Cliffwater, presented a formal review of the current REIT portfolio managers. The board approved retention of Cohen & Steers and Dimensional Fund Advisors.
Past Board Meetings
June 2023
In accordance with board policy, the investment consultant, Cliffwater, presented a formal review of the current master limited partnerships and index fund managers. The board approved retention of Harvest Fund Advisors as MLP manager and State Street Global Advisors as manager of the index funds.
Pursuant to state law, TCDRS must select an independent firm to evaluate investment practices and performance every three years. The board adopted the Resolution to Accept 2023 Investment Practices and Performance Report after Cliffwater provided the required report.
March 2023
The board approved the 2023 capital market assumptions as recommended by Cliffwater and updated the investment policy to include the new assumptions, as well as to revise investment constraints for private equity co-investments and hedge funds. In accordance with the board’s policy to periodically assess the investment consultant, the board approved retention of Cliffwater, LLC.
December 2022
Cliffwater presented the 2023 private markets annual plan.
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 | May 1, 2023 June 23, 2023 |
Taconic Credit Dislocation Fund IV L.P. Silver Point Distressed Opportunity Institutional Partners II, L.P. |
$50 Million $250 Million |
|
| Direct Lending | September 29, 2023 |
Ares Pathfinder Fund II, L.P. |
$100 Million |
|
| Private Equity | January 6, 2023 January 6, 2023 February 10, 2023 March 14, 2023 March 15, 2023 March 30, 2023 April 3, 2023 April 26, 2023 May 1, 2023 May 1, 2023 May 5, 2023 May 26, 2023 June 30, 2023 September 27, 2023 September 29, 2023 September 29, 2023 September 29, 2023 September 29, 2023 |
Khosla Ventures VIII, L.P. Khosla Ventures Seed F, L.P. Summit Partners Europe Growth Equity Fund IV, SCSp Parthenon Investors VII, L.P. ZMC IV, L.P. TA XV-A, L.P. Lux Ventures VIII, L.P. Genstar Capital Partners XI, L.P. Mayfield XVII, A Delaware Limited Partnership Mayfield Select III, A Delaware Limited Partnership Cortec Group Fund VIII, L.P. Juxtapose Ventures III, L.P. KPS Special Situations Mid-Cap Fund II, LP KPS Special Situations Mid-Cap Fund II, LP TCG Labs Fund I, LP Marlin Heritage Europe III, SCSp DCVC Bio III, L.P. CIVC Partners Fund VII, L.P. |
$60 Million $30 Million €75 Million $110 Million $75 Million $80 Million $40 Million $110 Million $19.5 Million $19.5 Million $60 Million $50 Million $40 Million $10 Million $20 Million €60 Million $45 Million $40 Million |
|
| Private Real Estate | - | - | - |