Texas Teacher Retirement System, Austin, committed a total of $74 million to two private equity managers in April, according to a transaction report from the $204.7 billion system.
The largest commitment from the system's $34.3 billion private equity portfolio was €50 million ($54 million) to Hg Genesis 10 A, a European upper-middle market buyout fund, run by existing manager Hg Capital.
In addition, TRS committed $20 million to 10T AT Holdings, a venture/growth equity fund managed by 10T Holdings, a new manager for the system. The fund's portfolio managers will seek investment in U.S.-based mid- to late-stage private companies operating in digital asset ecosystems.
The actual allocation of Texas Teachers' private equity portfolio was 16.8% of total plan assets as of Dec. 31, compared to 14% for the system's long-term target.