Texas Municipal Retirement System, Austin, completed a total of $520 million in commitments during the third quarter, according to a completed investment report posted on its website.
The $37.4 billion pension fund completed the commitments between July 27 and Aug. 29.
Within its non-core fixed income asset class, the pension fund committed $150 million to Bregal Sagemount Credit Solutions, an opportunistic credit fund managed by Bregal Investments.
It is the second commitment to a Bregal fund. The pension fund previously committed $100 million to buyout fund Bregal Sagemount IV in 2022.
As of June 30, the pension fund's actual allocation to non-core fixed income was 18.6%; the target is 20%.
Within private equity, the pension fund committed $125 million to PSG VI, a buyout fund managed by PSG; $120 million to Altaris Health Partners VI, a healthcare-focused buyout fund managed by Altaris Capital Partners; and $75 million to buyout fund SkyKnight Capital Fund IV.
SkyKnight Capital is a new manager for the pension fund. TMRS previously committed €100 million ($109 million) to PSG Europe II in 2022 and $75 million to Altaris Health Partners V.
As of June 30, the pension fund's actual allocation to private equity was 10.7%; the target is 10%.
Within its other public and private markets asset class, the pension fund committed $50 million to Appian Zilker PV1, a private equity fund focused on the mining sector managed by Appian Capital Advisory.
TMRS committed $100 million to Appian Natural Resources Fund III earlier this year.
As of June 30, the pension fund's actual allocation to other public and private markets was 12.2%; the target is 12%.
