ERS approves €80m commitment

The US public pension has backed Riverside's sixth European buyout fund.

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 commit €80 million to Riverside Europe Fund VI, a contact at the pension informed Private Equity International. ERS has previously committed to Fund VI’s two predecessors in the series.

The $28.65 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 has made four commitments to private equity funds with a 2019 vintage, which combined constitute $285 million.

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