Texas pension commits $125m to private equity

The $15.6bn Texas County & District Retirement System has committed to Centerbridge, GTCR and EnCap in the past few months.

The $15.6 billion Texas County and District Retirement System has committed $125 million to private equity since September, working to meet its 8 percent allocation target to the asset class.

The pension committed $50 million to Centerbridge Partners II, targeting $3.75 billion; $35 million to GTCR X, targeting $3 billion; and $40 million to EnCap Energy Capital Fund VIII, which closed on $1.2 billion for its eighth fund in October.

The pension also committed $25 million to Institutional Venture Partners XIII, which closed this year on $750 million.

The private equity commitments represent some of the top strategies limited partners are looking for today – distressed investing, mid-market and growth, and energy.

The pension, which had an actual allocation of only 2 percent as of January, has also committed to Oaktree Capital Management, Highland Capital Partners, Hellman & Friedman and TA Associates in the past.