Texas County & District Retirement System, Austin, committed a total of $100 million to Advent International's latest global private equity fund, a transaction report showed.
From the system's $10.7 billion private equity portfolio, investment officers made the commitment to Advent International GPE X on March 31. The firm is an existing manager for the $43.9 billion pension fund.
The global buyout fund's portfolio managers will seek investment in sectors including business and financial services, health care, retail, consumer, leisure and technology.
The system's actual allocation to private equity/venture capital as of Dec. 31 was 24.4% close to its 25% target allocation.
As of March 31, the system's investment officers committed a total of $775 million to 14 private equity and venture capital funds managed by nine managers, the current year's transaction report showed.
In all of 2021, TCDRS committed a total of $2.3 billion to 33 private equity/venture capital fund managed by 26 firms.
