Texas County & District picks H.I.G. Capital for private equity
By Christine Williamson | March 12, 2013 3:04 pm
Texas County & District Retirement System committed $25 million to H.I.G. Capital Partners V fund, a private equity fund that invests in lower middle-market companies primarily in the U.S.
The commitment was made Feb. 28 from the retirement system's private equity, distressed and real estate portfolio, according to a transaction report on its website.
H.I.G. Capital closed the fifth fund in this series on March 4 with commitments of $1 billion from institutional investors, according to a statement on the private equity manager's website.
Austin-based TCDRS, which manages $19.7 billion for Texas municipal pension funds, committed $50 million in August to H.I.G. Bayside Loan Opportunity Fund III (Europe), also managed by H.I.G. Capital.
With the latest H.I.G. commitment, TCDRS has committed or invested a total of $800 million in hedge fund, private equity, distressed debt and opportunistic credit strategies year-to-date as of Feb. 28.