Texas County & District backs Vista Equity and Synova Capital funds

  • Assets Under Management: $30.3 bln
  • PE allocation: 15 pct
  • PE target: 13.1 pct
  • Whom to Contact: Sarah Flores, sflores@hahnpublic.com

Texas County & District Retirement System pledged more than $143 million to private equity funds at its June meeting, according to its website.

Board commitments include:

  • $50 million to Vista Equity Partners’ Endeavor Fund II, targeting $750 million. The fund focuses on smaller deals that don’t fit middle-market or flagship funds, Buyouts previously reported. Vista’s first Endeavor fund raised $560 million in 2017;
  • 35 million pounds ($43.6 million) to Synova Capital’s fourth fund, which closed at its hard cap of $456.7 million in June;
  • $50 million to Carnelian Energy Capital Management’s third fund, which closed at its $775 million hard cap on July 1. The fund targets energy investments in the lower middle market oil and gas industries in North America.

Texas C&D has made more than $924 million in private equity commitments, so far in 2019, its website shows.

Private equity makes up 15 percent of the system’s $30.3 billion fund, surpassing its 13.1 percent target allocation, as of March 31.