The amount will be evenly divided between
Oaktree Capital has earmarked the funds for investing around the world in the distressed debt of large, overleveraged companies. Through the funds the firm frequently takes a leadership role in the restructuring processes of the companies it invests in, but often refrains from taking an equity or control position in the reorganized businesses.
Last fall, Buyouts learned that the Teacher Retirement System of Texas intended to commit roughly $2.5 billion to private equity in 2010. It has an appetite for primary funds, secondary funds, as well as co-investments. The $91 billion pension fund’s target allocation to private equity is 10 percent, with a range of 5 percent to 15 percent. As of Sept. 30, the actual private equity allocation stood at 6.5 percent.