TCDRS approves $170m in commitments

The US public pension fund has backed three private equity funds.

Institution: Texas County and District Retirement System
Headquarters: Austin, United States
AUM: $35.7 billion
Allocation to alternatives: 46.4%

Texas County & District Retirement System confirmed $170 million-worth of private equity commitments in February 2021, according to the pension’s recent investment activity report.

The commitments comprised $100 million to Comvest Credit Partners V, $50 million to Shamrock Capital Growth Fund V and $20 million to TCG Crossover Fund I. Shamrock Capital Growth Fund V is in market seeking $850 million in capital commitments, with TCG Crossover Fund I also in market targeting $700 million.

TCDRS has a private equity target allocation of 20 percent which currently stands at 19.1 percent.

As illustrated below, the $35.7 billion US public pension’s recent private equity fund commitments have focused on North American and global buyout vehicles.

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