Institution: Texas County and District Retirement System
Headquarters: Austin, US
AUM: $38.1 billion
Allocation to alternatives: 50.9%
Texas County & District Retirement System has approved $50 million-worth of commitments across two venture capital vehicles, according to the pension’s latest investment activity.
The commitments comprise $40 million to Sky9 Capital Fund V and $10 million to Sky9 Capital MVP Fund II. Both vehicles are managed by Sky9 Capital, targeting TMT sectors across North America and Asia-Pacific; with a special interest in the US and China. The pension fund had previously committed a total of $40 million to the predecessor vehicles.
TCDRS currently has a target allocation to private equity of 25 percent, which currently stands at 20.5 percent.
As illustrated below, recent commitments by the $38.1 billion pension fund have predominantly targeted North American venture capital and growth equity investments.
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