Texas County & District Retirement System, Austin, committed a total of $50 million to two middle-market buyout private equity funds managed by Charlesbank Capital Partners, a transaction report showed.
The $27.8 billion pension fund committed $45 million to Charlesbank Equity Fund IX and $5 million to the fund's co-investment companion vehicle, Charlesbank IX Overage Allocation Program.
The fund seeks investment opportunities in North American companies in industrial, industrial services, consumer, distribution and business services sectors.
TCDRS committed $30 million in 2014 to the prior fund in Charlesbank's fund series.
The addition of the two Charlesbank funds are the 21st and 22nd commitments made by the fund to private equity and venture capital funds year-to-date through Oct. 6. Aggregate commitments to the asset classes now total $1 billion as of the same date, according to the TCDRS report.