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Texas Employees earmarks $220 million to 4 private equity funds

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The $33.5 billion Texas Employees Retirement System, Austin, committed $220 million to four private equity strategies in May, a transaction report showed.

From the system’s $5.9 billion private equity portfolio, ERS investment officers committed $180 million to existing manager TA Associates, with $140 million earmarked for TA XIV, whose portfolio managers will seek investment in middle-market growth companies in technology, health care, financial services, consumer and business services.

The remaining $40 million was committed to TA Select Opportunities Fund II for recapitalization of high-performing companies in TA’s portfolios.

Existing manager Industry Ventures received a $30 million from ERS for investment in Industry Ventures Partnership Holdings VI, a middle-market private equity fund.

The system’s private equity team also committed $10 million to CO20210524, a private equity co-investment.

As a matter of policy, ERS does not identify the manager or investment target of co-investments.