ERS Texas approves €50m commitment

The US public pension has backed Hg's ninth series buyout fund.

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 agreed to commit €50 million ($54.4 million) to HgCapital 9, a contact at the pension informed Private Equity International. The fund is focusing on investments in the European TMT sector.

The $29.40 billion US public pension has a 13.0 percent target allocation to private equity that currently stands at 14.7 percent.

As illustrated below, ERS Texas has made 12 commitments to private equity funds with a 2019 or 2020 vintage, which combined constitute $585 million.

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