TRS approves $385m in commitments

The US public pension has backed three PE funds in its latest round of commitments.

Institution: Teacher Retirement System of Texas
Headquarters: Austin, United States
AUM: $148.0bn
Allocation to alternatives: 35.0%
Bitesize: $100-200m

Teacher Retirement System of Texas has confirmed $385 million worth of private equity commitments, a contact at the pension informed Private Equity International.

The commitments comprise of $200 million to Clayton, Dubilier & Rice Fund XI, €125 million ($135 million) to Hg Genesis 9 and $50 million to Hg Saturn 2.

The $148.0 billion US public pension has a 14.0 percent current and target allocation to private equity.

As illustrated below, TRS’ five previous private equity commitments have been directed towards three buyout funds, with one fund apiece focusing on venture and distressed investments also receiving commitments.

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