Texas Employees Retirement System, Austin, committed a total of $385 million in May to five private equity funds managed by four existing managers, a transaction report from the $28.3 billion pension fund showed.
Investment officers made their largest private equity commitment — $125 million — to Crown Asia-Pacific Private Equity Fund IV, a buyout fund managed by LGT Capital Partners.
Advent International was awarded a $110 million commitment for investment in Advent Global Private Equity IX, a global buyout fund, while TA Associates' TA XIII, a large U.S. buyout fund, received a $100 million commitment.
The pension fund's private equity investment staff committed $25 million each to TPG Partners VIII, an upper-middle-market buyout fund, and TPG Healthcare Partners, whose portfolio managers seek health care-focused investments.
