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