Texas County & District Retirement System, Austin, committed a total of $305 million to four new private equity funds run by existing managers, a transaction report showed.
Investment officers of the $30.7 billion system committed a total of $200 million from the $5.3 billion private equity portfolio to three new funds offered by Asian-specialist manager Hillhouse Capital Group: $100 million to Hillhouse Fund V, $85 million to Focused Growth Fund V and $15 million to Hillhouse Venture Fund V. Hillhouse portfolio managers for the three funds will focus on investment opportunities in southeast Asia.
Waterland Private Equity Investments was awarded a commitment of €90 million ($105 million) for investment in WPEF VIII Feeder. Waterland focuses on seven northern European countries: Austria, Belgium, Germany, Luxembourg, Netherlands, Poland and Switzerland.
Including the new Hillhouse and Waterland commitments, the TCDRS private equity team committed a total of $1.9 billion to 29 private equity/venture capital funds run by 23 money managers year-to-date Oct. 22. In all of 2019, TCDRS committed an aggregate $1.2 billion to 28 PE/VC funds managed by 27 firms.