ERS approves more than $60m in commitments

The US public pension has backed a global buyout fund and a European debt fund.

Institution: Employees Retirement System of Texas
Headquarters: Austin, United States
AUM: $27.84bn
Allocation to alternatives: 24.58%
Bitesize: $50-100m

Employees Retirement System of Texas (ERS) has agreed in closed session to commit $50 million to Northern Shipping Fund IV and €10 million ($11.4 million) to Triton Debt Opportunities Fund II, a contact at the pension informed Private Equity International. Northern Shipping Fund IV is a buyout fund investing in maritime transportation assets in the Northern Hemisphere, whereas Triton Debt Opportunities Fund II is a mezzanine / debt fund investing into Western Europe.

The $27.84 billion US public pension has a 13.0 percent target allocation to private equity that currently stands at 14.75 percent.

As illustrated in the charts below, ERS has committed to eight private equity funds with a vintage of 2018 or 2019, with these funds focusing on buyouts and corporate private equity across various regions.

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