Texas Employees Retirement System, Austin, disclosed two new private equity commitments totaling $320 million completed in March and April, according to a transaction report emailed by Scott Osborn, financial analyst.
The $34.1 billion pension fund committed $200 million to Crown Global Secondaries VI, a secondary private equity fund managed by LGT Capital Partners, and $120 million to TA XV, a middle-market buyout fund managed by TA Associates, according to the report.
Also in the report, ERS disclosed a follow-on commitment of $25 million to ERS Private Equity Emerging Manager Fund III, a private equity fund of funds managed by Baring Private Equity Asia. The pension fund previously committed $25 million to that fund in 2021.
Also, the pension fund made a follow-on commitment of $11 million to buyout fund KSL Capital Partners IV. ERS originally committed $125 million to the fund in 2015.
As of April 30, the pension fund's actual allocation to private equity was 18.8%; the target is 16%.