TCDRS approves $75m in commitments

The Austin-based public pension has backed two US buyout funds.

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 $75 million-worth of private equity commitments, according to the pension’s February monthly investment report.

The commitments comprise of $50 million to Pamlico Capital V and a top-up commitment of $25 million to Water Street Healthcare Partners IV. TCDRS previously committed $43 million to Water Street’s fourth healthcare fund in September 2017.

The $32.11 billion US public pension has a 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 vehicles with a 2019 or 2020 vintage, which combined constitute $2.48 billion.

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