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Texas Pension Backs New CIFC Leveraged Loan Fund

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The Teacher Retirement System of Texas is anchoring a CIFC Asset Management LLC fund that will have the capacity to back as much as $2 billion of leveraged loans across the U.S. and Europe.

The Texas Debt Capital LP fund will invest in senior secured loans made to businesses, particularly portfolio companies of private-equity funds in which the pension participates, according to a news release. The pension manages $193.1 billion in assets and serves nearly 1.7 million people. The size of its commitment to the new fund wasn’t…