Recent Investment Activity

See our recent board activity and investment commitments.

Board of Trustees

September 2022

The board amended the investment policy to clarify the concentration limit of private real estate funds and to update the renamed direct lending benchmark.

 

Past Board Meetings

June 2022

Cliffwater presented a due diligence review report on the active international equity managers, and the board approved retention of Marathon, Marshall Wace LLP, Viking Global Fund L.P., Wellington Trust Co., JP Morgan and Dimensional Fund Advisors. The board also amended the investment policy to clarify the concentration limit of private equity funds, to update renamed fixed-income benchmarks, and to replace the discontinued Strategic Credit asset class benchmark.

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.

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.

About TCDRS

Explore Why We’re Different

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

November 3, 2022

Irradiant CLO Partners Fund III, L.P.

$75 Million

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

October 28, 2022

November 11, 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

Pathlight Capital Evergreen Fund LP

Silver Point Specialty Credit Fund III, L.P,

$150 Million

$200 Million

$150 Million

$150 Million

$100 Million

$100 Million

$150 Million

$50 Million

$100 Million

$250 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 5, 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

May 31, 2022

June 2, 2022

June 2, 2022

June 9, 2022

June 9, 2022

June 30, 2022

July 20, 2022

July 20, 2022

 

July 22, 2022

September 30, 2022

November 3, 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

Threshold Ventures IV, L.P.

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.

IDG China Venture Capital Fund VII L.P.

Shine Capital II, L.P.

Shine Capital Opportunities Fund I, L.P.

The Column Group Opportunity III, LP.

The Column Group V, LP

Joy Capital IV, L.P.

Spectrum Equity X-A, L.P.

Spectrum Equity Discretionary Overage Program III-A, L.P.

Synova Fund V LP

H.I.G. Middle Market LBO Fund IV, L.P.

WPEF IX Feeder 1 ILP

$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

$19.3 Million

$125 Million

$100 Million

$14.3 Million

$100 Million

$10.7 Million

$5.3 Million

$85 Million

$20 Million

$5 Million

$30 Million

$70 Million

$3.9 Million

$1.9 Million

$50 Million

$7.1 Million

$3.5 Million

$25 Million

$25 Million

$55 Million

$70 Million

$10 Million

 

£65 Million

$75 Million

€105 Million

Private Real Estate

February 4, 2022

February 18, 2022

March 1, 2022

March 11, 2022

March 31, 2022

June 24, 2022

July 7, 2022

September 16, 2022

November 23, 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

SCP Real Estate Opportunities Fund II-A, L.P.

FPA Core Plus Fund VI, L.P.

Pennybacker VI, L.P.

FCP Realty Fund VI-B, L.P.

$50 Million

$75 Million

$75 Million

$75 Million

€70 Million

$75 Million

$75 Million

$75 Million

$75 Million