Texas Employees Retirement System, Austin, committed a total of $145 million in April to two existing managers from the system's $6.5 billion private equity portfolio, a transaction report for the $35.2 billion pension fund showed.
The largest commitment was $85 million to Advent International GPE X, which invests in global buyouts in business and financial services, health-care, retail, consumer, leisure and technology sectors.
Cotton Creek Capital was awarded a $60 million commitment to Cotton Creek Capital Partners IV, a middle-market buyout fund.
As of March 31, ERS' actual allocation to private equity was 18.5% compared with the retirement system's long-term target of 13.5%, an investment report showed.
