Texas County & District Retirement System selected ZMC Advisors for a commitment from its $4.6 billion private equity/venture capital portfolio, a transaction report showed.
Investment officers of the $30.4 billion Austin-based defined benefit plan committed $75 million to ZMC III, a private equity fund that will seek investments in Northern American and European transitional growth and special-situations companies in the media and communication sectors.
With the addition of the ZMC fund, TCDRS has committed a total of $1.1 billion to 18 private equity and venture capital funds managed by 17 firms so far this year.
In 2018, the fund committed a total of $1 billion to 19 private equity/venture capital funds run by 14 managers, transaction reports showed.
