Searches and Hires

Texas County & District commits $30 million to Chinese venture capital fund

Texas County & District Retirement System, Austin, committed $30 million to Chinese venture capital fund Joy Capital Opportunity, a transaction report showed.

The $30.2 billion pension fund previously committed a total of $90 million to Joy Capital II, a venture capital fund that will provide early-stage funding to companies in China's technology, media and telecom sectors.

The commitment falls within the pension fund's private equity asset class. With the addition of Joy Capital Opportunity, TCDRS has earmarked a total of $822 million to 14 strategies as of Nov. 7. In 2017, the pension fund committed an aggregate $1.24 billion to 25 private equity funds.