Texas County & District Retirement System committed $85 million to a China-focused private equity fund managed by Hillhouse Capital Management, a new manager for the $29.4 billion pension fund, a transaction report showed.
Hillhouse Fund IV will seek buyout opportunities and minority stakes in Chinese companies at all stages of growth in consumer, technology, media, telecommunications, industrial and health-care sectors, according to the manager's website.
With the addition of the Hillhouse fund, TCDRS has committed a total of $357 million to seven private equity funds as of July 13 so far this year, the transaction report showed.
