Texas ERS confirms €50m commitment and outlines 2020 PE investment plan

The US public pension has backed Investindustrial's seventh buyout fund, whilst also confirming its private equity allocation plans for fiscal year 2020.

Institution: Employees Retirement System of Texas
Headquarters: Austin, United States
AUM: $28.67bn
Allocation to alternatives: 24.47%
Bitesize: $50-100m

Employees Retirement System of Texas has approved a commitment of €50 million to Investindustrial VII, a contact at the pension informed Private Equity International. 

The $28.67 billion US public pension has a 13.0 percent target allocation to private equity that currently stands at 14.23 percent.

As illustrated in the charts below, Texas ERS’ commitment to Investindustrial VII brings its  total number of 2019-vintage private equity commitments to six, which combined constitute $362.6 million.

Elsewhere, the Austin-based pension has announced plans to commit between $800 million and $1 billion to private equity funds in fiscal year 2020, according to materials from its August investment meeting.

Texas ERS is intending to commit this capital to between nine and 18 different vehicles, including co-investments.

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