Texas County & District Retirement System, Austin, committed a total of $50 million to two venture capital funds run by existing manager The Column Group, a transaction report for the $44 billion pension fund showed.
The allocation from the retirement system's $11.5 billion private equity/venture capital portfolio was split evenly between The Column Group Opportunity III and The Column Group V.
Both funds will focus on investment in early stage companies in the life sciences and biotechnology sectors.
The actual allocation to private equity and venture capital as of March 31 was 26.1% of defined benefit assets; the target is 25%.
Year-to-date June 9, TCDRS has committed a total of $1.2 billion to 21 private equity and venture capital funds managed by 15 managers, the 2022 transaction report showed.
In all of 2021, the pension fund committed a total of $4.6 billion to 33 strategies managed by 26 private equity and venture capital firms, according to the transaction report for that year.
