Short-term caution, long-term ambition

Short-term caution, long-term ambition 2009-10-01 Staff Writer <strong>HEAD OFFICE</strong><strong>CONTACTS</strong>200 East 18th StreetMs. Jacqueline JohnsonAustinChief Investment OfficerTexasAustin, United StatesUnited States 787011 512 867 7711www.ers.state.tx.us<strong>INVES

HEAD OFFICECONTACTS200 East 18th StreetMs. Jacqueline JohnsonAustinChief Investment OfficerTexasAustin, United StatesUnited States 787011 512 867 7711www.ers.state.tx.usINVESTMENT OPPORTUNITIES

Current number of GPs 19
Capital committed to date $1.3bn
Current number of commitments 17
Approx. Future capital to be invested $600m
Approx. Number of funds commit to in future 9-14

PRIVAT E EQUITY INVESTMENT APPETITE

NORTH WESTERN CEE MENA ASIA LATIN
AMERICA EUROPE PACIFIC AMERICA
Generalist
Buyout / later stage • • • • • •
Venture • • • • • •
Mezzanine / subordinated debt • • • • • •
Fund of funds
Mid-market • • • • • •
Infrastructure • • • •
Turnaround • • • • • •
Secondary fund interests • • • • • •
Other • • • • • •

RECENT PRIVATE EQUITY FUND COMMITMENTS INCLUDE:

FUND NAME MANAGER SIZE YEAR FUND TYPE
TA Associates Xi TA Associates $4.0bn/$100m 2009 Growth/
Expansion
Capital
Triton III Triton €1.9bn/ €60m 2009 Buyout
Riverside Capital The Riverside $1.17bn/$100m 2008 Buyout
Appreciation Fund V Company
Charterhouse Capital Charterhouse Capital €4.00bn/ €53m 2008 Buyout
Partners IX Partners
Navis Asia VI Navis Capital Partner s $400m/$60m 2008 Buyout
Lexington Capital Lexington Partners $100m 2008 Secondaries
Partners VII
Brazos Fund III Brazos Private $700m/$37.5m 2008 Buyout
Equity Partners

Assets / funds under management$19.48bnAllocation to alternatives16%Allocation to private equity8%Year first invested in private equity1998AdvisersAltius AssociatesGEOGRAPHY

North America 80%
Western Europe 4%
Central & Eastern Europe 4%
Middle East / Africa •
Asia Pacific •
Latin America •
Other 12%

SECTORS

Energy oil / gas
Biotech / life science •
Clean tech / renewable
Retail •
Manufacturing •
Natural resources
Financial services •
Leisure / entertainment •
Transport
TMT •
No sector preference
Other

FUND TYPE

Generalist
Buyout / Later Stage •
Venture •
Mezzanine / Subordinated Debt •
Fund Of Funds
Mid-Market •
Infrastructure
Turnaround / Distressed •
Secondary Fund Interests •
Other •
Growth/Expansion
Investment Opportunities
Secondary Directs •
Co-Invests
Directs •
First Time Funds