Texas County & District Retirement System, Austin, committed at total of $100 million to two private equity funds, confirmed Paul J. Williams, investment officer.
TCDRS investment officials committed $75 million to Wayzata Opportunities Fund III, the $17.6 billion pension fund's first investment in a private equity fund managed by Wayzata Investment Partners.
An additional $25 million was committed to Riverstone Global Energy & Power Fund V; the pension fund's first commitment to the fund was made on Feb. 17. The fund is managed by Riverstone Holdings.
The new commitments, made on June 29, are “a continuation of the buildout” of the private equity portfolio, Mr. Williams wrote in an e-mail. The $25 million additional commitment to the Riverstone V fund “reflects our decision to increase our target bite size (per fund) in private equity from $50 million to $60 million to $75 million,” Mr. Williams wrote.
The pension fund's private equity target is 10% of total assets. Actual private equity investments and commitments totaled 6% as of June 30.