TMRS approves $400m commitment

The US public pension has backed a co-investment private equity fund.

Institution: Texas Municipal Retirement System
Headquarters: Austin, US
AUM: $29.9 billion
Allocation to alternatives: 12.60%

Texas Municipal Retirement System has agreed to commit $400 million to HarbourVest/TMRS Co-Invest Fund of One. HarbourVest Partners has been hired to manage the co-investment fund.

The $29.99 billion US public pension has a 10.0 percent target allocation to private equity that currently stands at 3.4 percent.

As illustrated below, the pension fund’s recent commitments are to funds focused on the technology, healthcare and financial services sectors within the Asia-Pacific, Europe and North America regions.

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