Texas Municipal Retirement System, Austin, disclosed $3.7 billion in commitments and investments completed during the fourth quarter in an investment report on its website.
Among the commitments listed by the $43 billion pension fund was a $3 billion commitment to Trinity River Holdings, allocated to multiple asset classes. The report did not provide further information on the fund.
Within its private debt asset class, the pension fund committed $200 million and $100 million to opportunistic credit fund Blackstone Capital Opportunities Fund V and sidecar vehicle Blackstone COF V Co-Investment Fund, respectively; $150 million to OHA CLO Enhanced Equity Fund III, a private credit fund managed by Oak Hill Advisors; and invested $75 million to D.E. Shaw Alkali Fund VI, a multistrategy hedge fund managed by D.E. Shaw Group.
As of Dec. 31, the pension fund’s actual allocation to private debt was 12.9%; the target is 13%.
Within private equity, the pension fund committed $100 million and $75 million to Searchlight Capital IV LEAF Co-Invest Partners and Searchlight Capital IV, respectively, both buyout funds; $35 million to RCP Collins Co-Invest, a private equity co-investment fund managed by Reverence Capital Partners; and $30 million to Seven Equity Holdings, a private equity fund. Further information on the latter fund was not provided in the completed investments report.
As of Dec. 31, the pension fund’s actual allocation to private equity was 13%, equal to its target.
CIO Yup Kim and Deputy CIO Tom Masthay could not be immediately reached for further information.
