Institution: Texas County and District Retirement System
Headquarters: Austin, United States
Allocation to alternatives: 36.55%
Texas County and District Retirement System (TCDRS) has agreed to commit $125 million to Veritas Fund VII, according to a recent report on the pension’s website. The fund focuses on US buyouts, mainly in the TMT sector.
TCDRS previously committed $60 million to the fund’s predecessor, which closed in February 2017.
The pension has a target allocation of 18.0 percent to private equity that currently stands at 15.18 percent.
As illustrated below, this is TCDRS has made several commitments to 2019-vintage private equity funds, which combined constitute $1.02 billion.
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