ERS Texas approves $80m in commitments

The US public pension has backed two private equity funds.

Institution: Employees Retirement System of Texas
Headquarters: Austin, United States
AUM: $29.40bn
Allocation to alternatives: 28.45%
Bitesize: $50-100m

Employees Retirement System of Texas has confirmed $80 million-worth of private equity commitments to two vehicles, a contact at the pension informed Private Equity International.

The commitments comprise of $50 million to HitecVision VIII and $30 million to MBK Partners V.

The $29.40 billion US public pension has a 13.0 percent target allocation to private equity that currently stands at 14.70 percent.

As illustrated below, the ERS Texas has made 11 commitments to private equity funds with a 2019 vintage, which combined constitute $537 million.

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