ERS Texas approves $215m in commitments

The US public pension has backed three North American private equity funds.

Institution: Employees Retirement System of Texas
Headquarters: Austin, US
AUM: $28.30 billion
Allocation to alternatives: 30.0%

Employees Retirement System of Texas has confirmed $215 million-worth of private equity commitments to three vehicles, a contact at the pension informed Private Equity International.

The commitments comprise of $125 million to Balance Point Capital Partners V, $50 million to Industry Ventures Lonestar and $40 million to Industry Ventures Secondary Fund IX.

The $28.30 billion US public pension has a 13.0 percent target allocation to private equity that currently stands at 15.35 percent.

As illustrated below, the pension fund’s recent commitments are to funds focused on the financial services, consumer goods, technology, healthcare and industrial sectors within the North America and Europe regions.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.