DJIA52064.10 -316.56
S&P 5007591.70 -44.66
NASDAQ26081.72 -171.62
Russell 20002890.95 -30.28
German DAX25361.15 -215.30
FTSE 10010608.92 -61.14
CAC 408116.76 -39.91
EuroStoxx 506269.65 -42.10
Nikkei 22565270.95 128.17
Hang Seng24954.47 -320.49
Shanghai Comp3934.40 -17.11
KOSPI7033.92 -17.72
Bloomberg Comm IDX146.97 1.83
WTI Crude-fut103.95 6.10
Brent Crude-fut104.02 6.94
Natural Gas2.84 0.04
Gasoline-fut3.43 0.21
Gold-fut4359.70 -86.30
Silver-fut64.08 -3.84
Platinum-fut1783.20 -121.20
Palladium-fut1291.50 -78.50
Copper-fut6.52 -0.34
Aluminum-spot3195.00 0.00
Coffee-fut289.95 -1.20
Soybeans-fut1331.75 23.00
Wheat-fut741.50 12.75
Bitcoin76830.43 -1167.09
Ethereum USD2445.34 -7.62
Litecoin52.35 -0.55
Dogecoin0.08 -0.01
EUR/USD1.1622 0.0001
USD/JPY153.56 -0.52
GBP/USD1.3548 0.0011
USD/CHF0.8106 0.0009
USD IDX99.09 0.34
US 10-Yr TR4.965 0.021
GER 10-Yr TR3.5026 0.0063
UK 10-Yr TR5.4056 0.0278
JAP 10-Yr TR2.983 0.073
Fed Funds3.75 0
SOFR3.64 0
Connect News Money news for every market and every facet, every day.
Connect Money Events Live and virtual events bringing together the best of information and networking.
Financial Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Awards View the A-list of money & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for clear, concise news of maximum importance to the financial services industry.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course
High-rise commercial buildings

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Topics

Alternative Assets  + Private Debt  + Private Equity  |  November 13, 2024
Texas Retirement Eyes Distressed Debt, Private Equity
Joe Palmisano
By: Joe Palmisano

Texas Retirement Eyes Distressed Debt, Private Equity

The Texas District and County Retirement System (TCDRS) has included three funds into its private markets portfolio in recent weeks, according to recent meeting filings.

This year has been active for the fund’s strategic credit, distressed debt, direct lending, and private equity initiatives. The recent commitments of $128 million follow annualized net profits above 10% for the year ending June 30, 2024.

TCDRS allocated $25 million to Silver Point Select Overflow Fund in the $1.8 billion distressed debt portfolio. In private equity, two funds were selected: AKKR Strategic Capital ($72.5 million) and Novacap TMT International NV ($30 million).

The AKKR fund is managed by Accel-KKR, while the Novacap-managed fund is the most recent addition to its TMT investment strategy. The firm aims to pursue control growth investments in profitable technology and technology-enabled enterprises.

The tech buyout fund is focused on sectors such as software, business services, Internet infrastructure, and e-commerce, encompassing solutions in the energy and healthcare markets.

Connect

Inside The Story

Texas County and District Retirement System

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
Order Reprints