Texas Municipal Retirement System, Austin, hired Jacobs Levy Equity Management to run $500 million in active global equities and announced commitments totaling $351 million completed during the third quarter, according to a report included with materials for its upcoming Dec. 19 board meeting.
The $42.7 billion pension fund did not provide information on the funding source for the Jacobs Levy portfolio.
The disclosed commitments were $108 million to Pioneer Infrastructure Partners II, a value-added infrastructure fund managed by Pioneer Point Partners; $100 million to WCP NewCold III, an opportunistic real estate fund concentrating on temperature-controlled storage facilities managed by Westport Capital Partners; $50 million to ARCH Venture Fund XIII, a venture capital fund managed by ARCH Venture Partners; $25 million to RCP Co-Invest A, a private equity co-investment fund managed by RCP Advisors; and $23 million to SkyKnight Financial Holdings, a buyout fund managed by SkyKnight Capital.
TMRS also committed $45 million to BCIS Martino GP, a fund allocated to the pension fund’s other private markets asset class. Further information on the fund was not available.
As of Sept. 30, the pension fund’s actual allocations to public equity, private equity, infrastructure and other private markets were 36.2%, 11.9%, 5.6% and 4%, respectively; their respective targets are 35%, 13%, 6% and 4%.
