ERS approves $385m in commitments

The US public pension has backed five private equity funds.

Institution: Employees Retirement System of Texas
Headquarters: Austin, United States
AUM: $28.65bn
Allocation to alternatives: 24.20%
Bitesize: $50-100m

Employees Retirement System of Texas (ERS) has agreed to $385 million in private equity commitments, a contact at the pension informed Private Equity International.

The commitments comprise of $100 million to TA XIII, $110 million to Advent International GPE IX, $25 million to TPG Healthcare Partners, $25 million to TPG Partners VIII and $125 million to Crown Asia-Pacific Private Equity IV. ERS previously committed $200 million to Crown Asia-Pacific Private Equity IV, with the pension’s commitment now totalling $325 million.

The $132.30 billion US public pension has a 13.0 percent target allocation to private equity that currently stands at 14.20 percent.

As illustrated in the charts below, ERS’ aforementioned collection of private equity commitments comprise of commitments to two buyout funds, two venture capital / growth equity funds and one fund of funds.

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