TCDRS approves $85m commitment

The US public pension has backed Advent's latest buyout fund.

Institution: Texas County and District Retirement System
Headquarters: Austin, United States
AUM: $29.16bn
Allocation to alternatives: 37.23%
Bitesize: $50-100m

Texas County and District Retirement System (TCDRS) has agreed to commit $85 million to Advent International GPE IX, according to a recent report on the pension’s website. The buyout fund will invest in North America and Europe.

The $29.16 billion US public pension has a 18.0 percent current and target allocation to private equity.

As illustrated in the charts below, TCDRS has made five commitments to private equity funds with a 2019 vintage, which combined constitute $255 million.

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