TRS approves $75m commitment

The US public pension has backed Lightspeed Venture Partners' fourth fund in its Select series.

Institution: Teacher Retirement System of Texas
Headquarters: Austin, United States
AUM: $152.20bn
Allocation to alternatives: 31.10%
Bitesize: $200-500m

Teacher Retirement System of Texas has agreed to commit $75 million to Lightspeed Venture Partners Select IV, a contact at the pension informed Private Equity International.

The $152.20 billion US public pension has a 14.0 percent target allocation to private equity that currently stands at 13.90 percent.

As illustrated below, TRS has made several commitments to private equity funds with a 2019 or 2020 vintage, which combined constitute $2.90 billion.

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