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Recent Investment Activity
See our recent board activity and investment commitments.
Board of Trustees
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.
Past Board Meetings
June 2021
The board amended the TCDRS Investment Policy to synchronize the definition and investment guidelines for private equity co-investments.
March 2021
The board approved the 2021 capital market assumptions as recommended by Cliffwater and adopted adjustments to the asset allocation. The asset allocation is projected to earn 7.6% over the long term based on the updated capital market assumptions and has an expected risk of 12.65%. The investment policy was amended to update the performance objective and include the newly adopted assumptions and asset allocation.
December 2020
Cliffwater presented the 2021 private markets annual plan and the board adopted a clarifying amendment to the investment policy concerning the definition of co-investments.
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 | January 26, 2021 March 25, 2021
April 9, 2021 |
Napier Park-TX Opportunistic Credit Fund LP Alcentra Structured Credit Opportunities Fund IV (USD) L.P. Taconic CRE Dislocation Onshore Fund III L.P. |
$7.6 Million $50 Million
$100 Million |
|
| Distressed Debt | March 22, 2021 April 1, 2021 June 23, 2021 July 19, 2021 |
Taconic European Credit Dislocation Fund III L.P. Marblegate Onshore Partners Fund II, L.P. Arbour Lane Credit Opportunity Fund III (A), L.P. Cheyne European Strategic Value Credit Fund II |
$100 Million $100 Million $175 Million $22.5 Million |
|
| Direct Lending | January 1, 2021 February 10, 2021 February 26, 2021 March 12, 2021 March 23, 2021 April 23, 2021 May 13, 2021 June 30, 2021 July 14, 2021 August 2, 2021 |
CapitalSpring Investment Partners VI, LP Cerberus Real Estate Debt Fund, L.P. Comvest Credit Partners V, L.P. Ares Pathfinder Fund, L.P. Ares European Credit Strategies Fund X (T), L.P. Atalaya A4 LP WTI Fund X, LLC 400 Capital TX COF II LP Hayfin Healthcare Opportunities Fund (US Parallel) LP AG Essential Housing Fund II, L.P. |
$85 Million $50 Million $100 Million $25 Million $200 Million $50 Million $25 Million $25 Million $100 Million $150 Million |
|
| Private Equity | February 4, 2021 February 10, 2021 February 26, 2021 February 26, 2021 March 16, 2021 March 16, 2021 April 1, 2021 April 1, 2021 April 6, 2021 April 15, 2021 April 30, 2021 May 10, 2021 May 14, 2021 May 14, 2021 May 27, 2021 May 27, 2021 May 28, 2021 May 28, 2021 May 28, 2021 June 30, 2021 July 19, 2021 July 23, 2021 July 23, 2021 August 26, 2021 September 21, 2021 September 21, 2021 September 22, 2021 |
Marlin Heritage Europe II, L.P. Juxtapose Ventures II, L.P. Shamrock Capital Growth Fund V, L.P. TCG Crossover Fund I, L.P. Source Code Venture Fund V L.P. Source Code Growth Fund II L.P. Genstar Capital Partners X, L.P. Genstar X Opportunities Fund I, L.P. IDG Breyer Capital Fund L.P. Vida Ventures III, L.P. Roark Capital Partners VI (T) LP Hellman & Friedman Capital Partners X, L.P. Linden Capital Partners V LP Linden Co-Investment V LP TA XIV-A, L.P. TA Select Opportunities Fund II-A, L.P. Shine Capital I, L.P. Lux Ventures VII, L.P. Lux Total Opportunities, L.P. Gaocheng Fund II, L.P. Nautic Partners X, L.P. Sky9 Capital Fund V, L.P. Sky9 Capital MVP Fund II, L.P. Riverside Micro-Cap Fund VI, L.P. LSC V, L.P. LSC Select II, L.P. Spectrum Select Opportunities-A, L.P. |
€20 Million $30 Million $50 Million $20 Million $17 Million $23 Million $110 Million $25 Million $30 Million $75 Million $100 Million $150 Million $85 Million $15 Million $130 Million $70 Million $15 Million $20 Million $40 Million $60 Million $100 Million $40 Million $10 Million $125 Million $18 Million $17 Million $25 Million |
|
| Private Real Estate | January 21, 2021 March 23, 2021 May 14, 2021 June 17, 2021 June 22, 2021 June 30, 2021 July 12, 2021 July 30, 2021 August 2, 2021 August 23, 2021 |
Roxborough Fund III, L.P. SRE Opportunity Fund IV, L.P. Whitman/Peterson IV, LP Victory European Real Estate Fund II (A) SCSp FCP Realty Fund V, L.P. Carlyle Realty Partners IX, L.P. Roxborough Fund III, L.P. Victory European Real Estate Fund II (A) SCSp Whitman/Peterson IV, LP Whitman/Peterson IV, LP |
$45 Million $100 Million $94.25 Million €65 Million $125 Million $125 Million $55 Million €12.5 Million $9.5 Million $21.25 Million |