Texas Municipal Retirement System, Austin, topped up its original commitment to growth equity fund FTV VI with an additional $25 million.
The board of trustees of the $30.3 billion approved the recommendation of invest at a meeting Jan. 24, confirmed Bill Wallace, the pension fund's spokesman, in an email.
The pension fund originally committed $50 million to the fund, which is managed by FTV Capital, in September 2019. FTV portfolio managers will target investments in the enterprise technology and services, financial services and payments and transaction processing services sectors
As of Sept. 30, the actual weighting to private equity represented 2.8% of plan assets; the fund's target allocation to the asset class is 5%.