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TCDRS approves $50m commitment

The US public pension has backed a PE vehicle managed by Charlesbank Capital Partners.

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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 committed $50 million to Charlesbank Technology Opportunities Fund, according to the pension’s January 2020 investment report. The fund focuses on TMT investments in North America.

The $32.11 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 several commitments to private equity funds with a 2019 vintage, which combined constitute $2.47 billion.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.