TCDRS approves $50m commitment

The US public pension has backed Spectrum's ninth series TMT-focused PE fund.

Institution: Texas County and District Retirement System
Headquarters: Austin, United States
AUM: $33.40bn
Allocation to alternatives: 38.90%
Bitesize: $50-100m

Texas County and District Retirement System has confirmed a $50 million commitment to Spectrum Equity Investors IX, according to an April 2020 investment report published by the pension.

Spectrum Investors IX will follow the strategy of its predecessor vehicles by pursuing growth capital investments in TMT companies.

The $33.40 billion US public pension has an 18.0 percent allocation to private equity that currently stands at 15.92 percent.

As illustrated below, TCDRS has made nine commitments to private equity funds with a 2020 vintage, which combined constitute $528 million.

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