ERS Texas approves $35m commitment

The US public pension has backed Arctos Sports Partners' debut vehicle.

Institution: Employees Retirement System of Texas
Headquarters: Austin, United States
AUM: $28.30bn
Allocation to alternatives: 30.0%
Bitesize: $50-100m

Employees Retirement System of Texas has confirmed a $35 million commitment to Arctos Sports Partners Fund I, a contact at the pension informed Private Equity International. The firm’s maiden evergreen vehicle has raised $500 million thus far against its $1.50 billion target.

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, ERS Texas has made four commitments to private equity funds in 2020, of which two have been to buyout funds and two to funds with a growth capital strategy.

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