Institution: Texas County and District Retirement System
Headquarters: Austin, United States
AUM: $31.92bn
Allocation to alternatives: 36.55%
Bitesize: $50-100m
Texas County and District Retirement System has agreed to commit $100 million to Baring Asia Private Equity Fund VI and $250 million to Silver Point Specialty Credit Fund II, according to a recent report on the pension’s website.
While the Baring fund focuses on buyouts in India and China, Silver Point is a mezzanine/debt fund which invests in North America.
The $31.92 billion public pension has an 18.0 percent target allocation to private equity that currently stands at 15.18 percent.
As illustrated in the table below, TCDRS is a repeat investor to both Baring Private Equity Asia’s buyout series as well as Silver Point’s Specialty Credit series, having previously committed $90 million and $50 million respectively to the pair.
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