TCDRS approves $210m in commitments

The US public pension has backed two PE funds.

Institution: Texas County and District Retirement System
Headquarters: Austin, United States
AUM: $33.40bn
Allocation to alternatives: 39.31%
Bitesize: $50-100m

Texas County and District Retirement System has confirmed $210 million-worth of private equity commitments to two vehicles, a contact at the pension informed Private Equity International.

The commitments comprise of €100 million ($110 million) to H.I.G. Europe Middle Market LBO Fund and $100 million to a separate account managed by Brigade Capital – TCDRS/Brigade Senior Tranche Fund (TX).

The $33.40 billion US public pension has an 18.0 percent target allocation to private equity that currently stands at 16.0 percent.

As illustrated below, TCDRS has made three commitments to private equity funds with a 2020 vintage, which combined constitute $260 million.

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