TCDRS approves $95m in commitments

The US public pension has backed three venture capital / growth equity funds.

Institution: Texas County and District Retirement System
Headquarters: Austin, United States
AUM: $30.39bn
Allocation to alternatives: 30.12%
Bitesize: $50-100m

Texas County and District Retirement System (TCDRS) has agreed to $95 million in private equity commitments, according to a recent report on the pension’s website.

The commitments comprise of $55 million to Joy Capital III, $30 million to Sky9 Capital Fund IV and $10 million to Sky9 Capital MVP Fund. All three funds focus on the Asia-Pacific region, with Sky9 Capital’s two funds also focusing on North America.

The $30.39 billion US public pension has an 18.0 percent target allocation to private equity that currently stands at 15.0 percent.

As illustrated below, TCDRS has made 13 commitments to funds with a 2019 vintage, which combined constitute $788.39 million.

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