Texas Employees Retirement System, Austin, committed $454.5 million to six funds in April, showed a transaction report provided by investment officials of the $24.9 billion pension fund.
The largest commitments were to two global special situations funds: $200 million was committed to Crown Global Secondaries IV and $100 million was earmarked for Crown Secondaries Special Opportunities. Both funds are managed by LGT Capital Partners and will focus on acquiring private equity stakes on global secondary markets.
The pension fund also made commitments to two more secondaries funds, this time for investment in U.S. venture capital funds. Industry Ventures Special Opportunities Fund III-A received a $47.5 million commitment and sister fund Industry Ventures Secondary VIII received a $40 million commitment.
ERS also committed $60 million to Energy & Minerals Group Fund IV, a global natural resources infrastructure fund that will invest in the energy and minerals and metals industry sectors, with emphasis on non-substitutable industrial commodities.
Finally, the pension fund committed $7 million to the private infrastructure-oriented ISQ Viridia Co-Invest fund, managed by I Squared Capital, for a European investment. In March, ERS committed up to $10 million to Shiprock San Juan Co-Investors I, also managed by I Squared Capital, for investment in the U.S.