Texas County & District Retirement System, Austin, committed a total of $85 million to two private funds managed by Summit Partners, said a transaction report on the $24.6 billion pension fund’s website.
The pension fund tapped its private equity allocation to commit $50 million to Summit Partners Growth Equity Fund IX-A and $35 million to Summit Partners Venture Capital Fund IV-A. The new additions bring total commitments to Summit Partners to $215 million.
Prior commitments, according to TCDRS transaction reports, are Summit Partners Credit Fund II, $50 million in October 2013; Summit Partners Venture Capital Fund III-A, $10 million in March 2013; Summit Partners Credit Fund I, $40 million, in October 2011; and Summit Partners Growth Equity Fund VIII-A, $30 million, in March 2011.
