Texas County & District Retirement System, Austin, committed a total of $60 million to two venture capital funds managed by Lux Capital.
The $38.1 billion pension fund's $40 million commitment to Lux Total Opportunities and $20 million to Lux Ventures VII closed May 28, confirmed retirement system spokesman Russ Rhea in an email.
These mark the 18th and 19th private equity/venture capital commitments for TCDRS in 2021, which has committed a total of nearly $1.1 billion to 14 managers year to date.
In 2020, the retirement system committed a total of $2 billion to 32 private equity/venture capital strategies managed by 25 firms, TCDRS' 2020 transaction report showed.