Texas County & District Retirement System, Austin, committed a total of $90 million to two venture capital funds managed by Spark Capital.
The $43.8 billion pension fund disclosed the Dec. 22 commitments of $60 million to Spark Capital Growth Fund V and $30 million to Spark Capital VIII in an investment activity report on its website.
TCDRS previously committed $80 million to Spark Capital Growth Fund IV and $40 million to Spark Capital VII in 2021.
As of Sept. 30, the pension fund's actual allocation to private equity was 27.8%; the target is 25%.