TCDRS approves $105m in commitments

The US public pension has backed two special situations private equity vehicles.

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 $105 million in private equity commitments, according to a recent report on the pension’s website. The commitments comprise of $75 million to KPS Special Situations Fund V and $30 million to KPS Mid-Cap Fund. The vehicles will make special situations equity investments across North America, Western Europe and Asia-Pacific.

The $31.92 billion US public pension has an 18.0 percent target allocation to private equity that currently stands at 15.18 percent.

As illustrated below, TCDRS is a repeat investor to the KPS Special Situations fund series, having previously committed $30 million to Fund IV in 2013.

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