ERS approves $100m commitment

The US public pension has backed a global secondaries fund.

Institution: Employees Retirement System of Texas
Headquarters: Austin, United States
AUM: $27.80bn
Allocation to alternatives: 27.57%
Bitesize: $50-100m

Employees Retirement System of Texas (ERS) has agreed to commit $100 million to Crown Secondaries Special Opportunities II, a contact at the pension informed Private Equity International. The 2018 vintage fund is managed by LGT Capital Partners.

The $27.80 billion US public pension has a 13.0 percent target allocation to private equity that currently stands at 14.75 percent.

As illustrated below, ERS tends to focus its private equity fund commitments on buyout funds in North America and Europe.

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