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TCDRS confirms £65m commitment

The US pension fund has backed Synova's fifth private equity fund.

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Name: Texas County and District Retirement System
HQ: Austin, US
AUM: $44.4 billion
Allocation to alternatives: 60%

Texas County and District Retirement System has committed £65 million ($80 million; €78 million) to Synova Capital V, according to recent investment materials.

Founded in 2007, Synova is a London-headquartered firm with an office in New York. The firm focuses on partnering with entrepreneurs to grow mid-market companies across the UK.

Texas County and District Retirement System has a 21.2 percent allocation to private equity, which comprises $9.3 billion of capital – less than its target allocation of 25 percent.

As illustrated below, TCDRS’s recent private equity commitments are mainly focused on North American vehicles that invest in venture capital funds.

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