Texas County & District Retirement System backs Cerberus Real Estate Debt Fund

Texas County & District Retirement System (TCDRS) has committed $150 million to the Cerberus Real Estate Debt Fund, managed by Cerberus Capital Management.

A spokesperson for the pension fund confirmed the commitment in an email and noted that TCDRS also previously invested in Cerberus Institutional Partners (series four) in 2006.

Cerberus launched the real estate debt fund in September 2019. The firm invests in debt and equity of commercial and residential properties and portfolios, as well as directly into REOCs and platforms.

An equity fundraising target was not disclosed.

Last month, TCDRS committed $150 million to Oak Street Real Estate Capital Fund V, a value