TCDRS approves $221.52m in commitments

The US public pension has backed three private equity funds.

Institution: Texas County and District Retirement System
Headquarters: Austin, United States
AUM: $32.11bn
Allocation to alternatives: 39.31%
Bitesize: $50-100m

Texas County and District Retirement System has agreed to commit $80 million to Parthenon Investors VI, €100 million to MCP Private Capital Fund IV and $30 million to Column Group IV, according to the December report on the pension’s website.

Parthenon follows a buyout / corporate private equity strategy while Column Group invests in venture capital / growth equity. Both funds invest across North America. MCP, managed by Metric Capital Partners, is investing in Western European mezzanine / debt. 

The $32.11 billion US public pension has an 18.0 percent target allocation to private equity that currently stands at 15.99 percent.

As illustrated below, TCDRS has previously invested in Metric Capital’s funds with commitments combined constituting €205 million.

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