Texas District & County Retirement System (TCDRS) has committed $100m (€86.3m) to Taconic Capital’s $400m distressed commercial real estate debt strategy.
The pension fund told IPE Real Assets that it invested the amount into Taconic Commercial Real Estate Dislocation Fund II, which held an initial closing with commitments totalling $310m.
Dislocation Fund II plans to invest in a distressed and value-add opportunities in the US.
TCDRS said it had placed the commitment into its strategic credit portfolio. The pension fund previously invested $100m into Taconic Commercial Real Estate Dislocation Onshore Fund in 2016.
Taconic Capital did not respond to a request for comment.
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