Texas County & District Retirement System, Austin, committed $150 million to a buyout fund in November, a transaction report for the $41.9 billion pension fund showed.
The commitment from the fund's $9.9 billion private equity portfolio was to TSG9, managed by TSG Consumer Partners, on Nov. 17. The fund seek investments in consumer-product companies.
Year-to-date through Nov. 22, TCDRS' private equity team committed a total of $2.5 billion to 36 private equity/venture capital funds managed by 26 firms, the current transaction report showed.
In all of 2020, the system committed a total of $2 billion to 32 private equity/venture capital funds managed by 25 managers, the pension fund's transaction report for that year showed.
At a Dec. 2 board meeting, the pension fund also approved rehiring Bank of New York Mellon as the system's custodian.
BNY Mellon has been the system's custodian since 1995, Russ Rhea, a spokesman for the fund, said in an email.
The new five-year contract will begin Jan. 1, 2023.