Texas County & District Retirement System, Austin, continued its private equity/venture capital shopping spree with $175 million earmarked for two existing managers, a transaction report for the $31.9 billion pension fund showed.
From the fund's $4.8 billion private equity/venture capital portfolio, investment officers committed $125 million to Veritas Capital Fund VII. Portfolio managers of the buyout fund focus on investing globally in companies providing products and services to governments, government-influenced markets and commercial customers in sectors including software, aerospace, defense, communications, energy and national security.
H.I.G. Capital Partners, another existing TCDRS manager, received a $50 million commitment to European buyout fund H.I.G. Middle Market LBO Fund III.
The fund's private equity/venture capital investment team committed a total of $375 million to six strategies managed by five managers in July alone.
Year-to-date Aug. 16, TCDRS staffers committed a total of $1.31 billion to 21 funds run by 20 managers. For comparison, a total of $1 billion was committed for invested in 19 strategies managed by 14 firms in all of 2018, transaction reports showed.