Texas County & District Retirement System, Austin, made two new private equity commitments totaling $175 million.
The $30.7 billion pension fund committed $125 million to TCV XI, a private equity fund that focuses on technology firms managed by Technology Crossover Ventures, and $50 million to OrbiMed Private Investments VIII, a venture capital fund managed by OrbiMed Advisors, a transaction report on its website shows.
The commitments came from the pension fund's $5.3 billion private equity/venture capital portfolio.
With the addition of these two funds, TCDRS has committed a total of $1.5 billion to 23 private equity and venture capital funds run by 20 managers so far this year.
In 2019, the pension fund committed $1.2 billion to 28 private equity/venture capital funds run by 27 firms, transaction reports showed.
