TCDRS approves $65m commitment

The US public pension has doubled down on its TA commitments.

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 agreed to commit $65 million to TA Select Opportunities Fund, according to the December report on the pension’s website. The fund will pick up stakes in companies its main fund is selling, won’t charge a management fee and will instead collect fees from portfolio companies.

The US public pension has an 18.0 percent target allocation to private equity that currently stands at 15.99 percent.

As illustrated below, TCDRS is a repeat investor into funds that are managed by TA Associates having invested into the manager’s flagship funds TA XIII and TA XII.

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