Texas County & District Retirement System, Austin, committed $75 million to H.I.G. Middle Market LBO Fund IV.
The $41.7 billion pension fund completed the commitment to the middle-market buyout fund managed by H.I.G. Capital on Sept. 30, a transaction report on its website shows.
The pension fund previously committed $38 million to H.I.G. Capital Partners VI in 2020.
Including the system's recent commitment to the H.I.G. fund, TCDRS has earmarked a total of $1.5 billion to 35 private equity/venture capital funds managed by 22 firms year-to-date Sept. 30, according to the transaction report.
In all of 2021, TCDRS committed a total of $4.6 billion to 26 private equity and venture capital managers running 33 strategies, the 2021 transaction report showed.
As of June 30, the pension fund's actual allocation to private equity was 27.6%; the target is 25%.
