Distressed debt outperforms as Texas pension fund's credit strategies gain 11.2%

By Sofia Karadima

Texas County and District Retirement System (TCDRS), the $30 billion pension fund, generated 11.2% annualised returns from its credit portfolio for the year ending 30 June. Distressed debt was a major positive, but IG credit lost value

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TAGS: Direct lending Investment grade credit Oaktree Distressed debt Davidson Kempner Fundraising North America Institutional investor