Texas County & District Retirement System, Austin, committed a total of $180 million to two private equity funds and one venture capital fund in late January and early February, a transaction report for the $41.9 billion pension fund showed.
Funding for the commitments came from the retirement system's $9.9 billion private equity/venture capital portfolio, with a total commitment of $150 million split evenly between buyout funds Thoma Bravo Fund XV and Thoma Bravo Discover Fund IV. The commitments were made Thursday, the report said.
Thoma Bravo is new manager for the pension fund.
Pension fund officers also committed $30 million on Jan. 26 to New Enterprise Associates 18, an early stage venture capital fund. TCDRS investment management staff committed $100 million to the previous fund in New Enterprise's fund family.
Year-to-date as of Thursday, with the addition of the three new private equity/venture capital funds, a total of $493 million has been committed from the defined benefit plan to 10 funds run by six managers.
In all of 2021, TCDRS committed a total of $2.3 billion to 33 private equity/venture capital funds managed by 26 firms, a transaction report for that year showed.
So far this year, TCDRS investment officers have made commitments only to private equity and venture capital funds.