Institution: Employees Retirement System of Texas
Headquarters: Austin, US
AUM: $33.9 billion
Allocations to alternatives: 38.9%
Founded in 2000, Hg’s objective is to pursue investment supporting long-term growth, leveraging its expertise working with software and services companies to implement initiatives designed to maximise organic expansion, as well as through rolling up fragmented sectors, over typical hold periods of approximately five years.
ERS, established in 1947, is a public pension fund providing benefits for employees and retirees of the state of Texas.
ERS’s portfolio allocation currently stands at 19.7 percent – overallocated to a target of 16 percent. The value of the portfolio is $6.68 billion.
The US pension’s recent fund commitments are predominantly focused on funds targeting Western European vehicles with a buyout focus.
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