TCDRS approves €50m commitment

The US public pension has backed a European private equity fund.

Institution: Texas County and District Retirement System
Headquarters: Austin, United States
AUM: $33.40bn
Allocation to alternatives: 38.90%
Bitesize: $50-100m

Texas County and District Retirement System has confirmed a €50 million commitment to EMH Partners’ Growth Fund II, according to the pension’s March 2020 investment report.

The TMT-focused private equity fund will be investing in the digital transformation of small to medium-sized enterprises in Europe, with a focus on the DACH region.

The $33.4 billion US public pension has an 18.0 percent target allocation to private equity that currently stands at 15.92 percent.

As illustrated below, TCDRS has made seven commitments to private equity funds with a 2020 vintage, which combined constitute $499 million.

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