TCDRS approves more than $300m in commitments

Institution: Texas County & District Retirement System
Headquarters: Austin, US
AUM: $42.0 billion
Allocation to alternatives: 52.6%

Texas County & District Retirement System has kicked off 2022 with seven private equity commitments worth $341.7 million, according to pension’s recent investment activity.

The commitments comprise:

• $85.7 million Threshold Ventures IV,
• $70 million to Lightspeed Venture Partners Select V,
• $50 million to Lightspeed Venture Partners XIV,
• $46 million to Hillhouse Venture Fund VI,
• $30 million to New Enterprise Associates 18,
• $35 million to CRV XIX,
• $25 million to CRV Select Fund II

The commitment to Charles River Ventures marks a new GP relationship for the public pension fund. New Enterprise Associates is currently in market raising capital for its 18th healthcare and technology-focused vehicle. According to Buyouts‘ database, the asset manager has raised more than $1.6 billion of the $2.9 billion target.

The $42.0 billion US pension fund has a target allocation of 25 percent to private equity, which currently stands at 21.7 percent.

As illustrated below, TCDRS’s recent fund commitments have predominantly targeted North American venture capital and growth equity vehicles.

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