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ERS Texas approves $40m commitment

The US public pension has backed a North American private equity fund.

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Institution: Employees Retirement System of Texas
Headquarters: Austin, US
AUM: $28.30 billion
Allocation to alternatives: 30.90%

Employees Retirement System of Texas has agreed to commit $40 million to Peak Rock Capital Fund III, a contact at the pension informed Private Equity International.

The $28.30 billion US public pension has a 13.0 percent target allocation to private equity that currently stands at 15.90 percent.

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

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