TCDRS approves $480m in commitments

Institution: Texas County and District Retirement System
Headquarters: Austin, US
AUM: $29.06 billion
Allocation to alternatives: 46.70%

Texas County and District Retirement System has confirmed $480 million-worth of private equity commitments to six vehicles, a contact at the pension informed Private Equity International.

The commitments comprise of $125 million to TCV XI, €90 million to Waterland Private Equity Fund VIII, $100 million to Hillhouse Fund V, $85 million to Hillhouse Focused Growth Fund V, $50 million to OrbiMed Private Investments VIII and $15 million to Hillhouse Focused Venture Fund V.

The $29.06 billion US public pension has a 20.0 percent target allocation to private equity that currently stands at 19.40 percent.

As illustrated below, the system’s recent commitments are to funds focused on the financial services, consumer goods, healthcare, leisure, retail and technology sectors within the Asia-Pacific, North America and Europe regions.

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