The Texas County & District Retirement System (TCDRS) has committed another $1 billion to 20 hedge fund strategies, HFMWeek reports. The system will allocate about $120 million to three credit funds, $30 million to a distressed fund, $140 million to two global macro funds, $60 million to two event-driven funds, $240 million to six long/short equity funds and $220 million to five multi-strategy funds.

The retirement system will also commit about $30 million each to the Avenue Europe Special Situations, the Santaky Credit Opportunities V, the Victory Park Capital II and the Davidson Kempner Long-Term Distressed Opportunities Fund. Oaktree Capital Management’s European Prinicipal Fund III will also get $50 million.

Click here for the story from HFMWeek.