Texas County & District Retirement System's investment officers committed $6.4 million to Riverstone Echo Rollover Fund from the pension fund's $5.6 billion private equity/venture capital portfolio, a transaction report showed.
The $29.1 billion Austin-based pension fund previously committed a total of $75 million to Riverstone Holdings' Riverstone Global Energy & Power Fund V in 2012. Riverstone specializes in energy, power and infrastructure investments via private equity and private credit strategies, according to the firm's website.
With the addition of TCDRS' commitment to the Riverstone Echo fund, the pension fund has earmarked a total of $1 billion to 19 private equity/venture capital funds managed by 16 firms through July 21 this year.
In all of 2019, TCDRS committed a total of $1.2 billion to 28 funds private equity/venture capital fund managed by 27 firms, transaction reports showed.