Searches and Hires

Texas Municipal slates $50 million for buyout fund

Texas Municipal Retirement System, Austin, committed $50 million to Dunes Point Capital Fund II, confirmed Bill Wallace, spokesman, in an email.

The fund will seek buyout opportunities in small- to middle-market North American companies in the industrials sector.

The Dunes Point Capital fund commitment puts the $26.6 billion pension fund more than halfway toward the $600 million goal of its 2017 private equity pacing plan, which focuses on opportunistically adding growth and credit strategies.

Year-to-date through Sept. 30, the pension plan had committed a total of $370.5 million to eight private equity strategies managed by six managers, according to a private equity pacing report prepared for a Sept. 21 board meeting.