TCDRS confirms $250m in commitments

Institution: Texas County and District Retirement System
Headquarters: Austin, US
AUM: $35.7 billion
Allocation to alternatives: 49.2%

Texas County & District Retirement System has recently approved $250 million-worth of private equity commitments across three buyout vehicles, according to the pension’s latest investment activity report.

The commitments comprise $150 million to Hellman & Friedman Capital Partners X, $85 million to Linden Capital Partners V and $15 million to Linden Co-investment V.

San Francisco-based fund manager Hellman & Friedman is seeking $20 billion for its 10th flagship fund. According to Buyouts’ affiliate Private Equity International, it is currently the largest buyout vehicle in the market. Linden Capital Partners currently has its fifth healthcare-focused buyout vehicle targeting $2.5 billion in capital commitments. The institution also has a co-investment vehicle alongside seeking $500 million.

TCDRS has a private equity target allocation of 25 percent, which is currently standing at 19.1 percent.

As illustrated below, the $35.7 billion US pension’s recent fund commitments have predominantly targeted corporate debt and buyout vehicles across North America, focusing on investments in multiple sectors.

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