Texas public pension boosts PE, lending portfolios by over $700m

The $31 billion Texas County & District Retirement System (TCDRS) in Austin has had a busy two months, with a total of nine new funds added to its alternative investment program. Private equity allocations led the way with $642 million in new capital with the largest allocation going to GTCR Partners XIII/A LP and GTCR Partners XIII/B LP totaling $150 million. Back in August, it came to light that GTCR was looking to raise $6.75 billion in its latest buyout fund, which would amount to the largest round of capital raising in the Chicago firm’s history. Chicago-based private equity firm GTCR reportedly is looking to raise $6.75 billion in its latest buyout fund, which would the largest round of asset raising in the firm’s history, Other private equity allocations for TCDRS were: Khosla Ventures VII ($95 million); Khosla Ventures Seed E ($30 million); H.I.G. Europe Capital Partners III ($61 million); WPEF VIII Feeder LP ($106 million); Hillhouse Focused Growth Fund V ($85 million); and Hillhouse Venture Fund V ($15 million). The private equity program at TCDRS totals $5.3 billion and the asset class gained more than 5% for the 12 months ending September 30. Lastly, within direct lending, a $100 million allocation was made to AG Essential Housing. Throughout 2020, officials have allocated $667 million to the $2.7 billion asset class whose inception dates back to 2015. For the year ending September 30, the investment return was 0.2%.

Texas public pension boosts PE, lending portfolios by over $700m

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