Institution: Texas Municipal Retirement System
Headquarters: Austin, US
AUM: $31.5 billion
Allocation to alternatives: 12.5%
Texas Municipal Retirement System has confirmed $360 million-worth of commitments to three private equity vehicles, a contact at the pension told Private Equity International.
The separate account is the second one managed by HarbourVest to which TMRS has committed in the last 12 months. The pension previously committed $400 million to a fund of one co-investment vehicle in September 2020. The new separate account will focus on investments in private equity secondaries.
Elsewhere, Arcline Investment Management’s second fund recently held a final close at $2.75 billion, surpassing its initial $2 billion target.
TMRS has a 10 percent target allocation to private equity that currently stands at 3.7 percent.
As illustrated below, The $31.5 billion US public pension’s recent private equity commitments have targeted predominantly North American vehicles pursuing various strategies.
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