Texas Employees Retirement System, Austin, committed to or invested in a total of $295 million to seven money managers through August and September according to a report from the $36 billion defined benefit plan.
The largest allocation by asset class was $90 million committed to two private equity managers.
ERS' largest commitment to private equity was $50 million to American Industrial Partners' American Industrial Partners Capital Fund VIII, a middle market private equity fund whose investment managers focus on buying and improving industrial companies in the U.S., Canada and other developed markets.
ERS investment officers committed $40 million for management in Industry Ventures Secondary X, which will seek investments in private technology.
ERS' target allocation to private equity was 18.4% of defined benefit plan assets compared to 16% for the fund's strategic target in August, the report showed.
ERS's investment team invested a total of $75 million in two credit hedge funds with $50 million going to Serenitas Credit Gamma Fund, managed by LMCG Investments and $25 million invested in Tresidor Europe Credit Fund, managed by Tresidor Investment Management.
ERS' actual allocation to hedge funds was 5.9% in August, compared to the system's 6% target allocation from the defined benefit plan.
The investment team committed a total of $70 million to private real estate managers, with Long Point Realty Partners receiving a commitment of $55 million and $15 million going to Prologis European Logistics Fund. The latter manager's team seeks investment in logistics and facilities in Europe.
ERS' target allocation to private real estate was 10.7% of total defined benefit assets while the actual allocation was 9%.
The ERS investment team committed $60 million from its private infrastructure portfolio to DigitalBridge Group for investment in DigitalBridge Partners III. DigitalBridge portfolio managers concentrate on investing in data centers, cell towers and digital billboards among other tech-oriented infrastructure globally.
ERS system's actual allocation to infrastructure is 6.2% of total defined benefit while target allocation is 5%.
