Texas County confirms $75m commitment

The US public pension fund has backed Vida Venture's third vehicle, which is targeted at $750m.

Institution: Texas County & District Retirement System
Headquarters: Austin, US
AUM: $35.7 billion
Allocation to alternatives: 49.2%

Texas County & District Retirement System this month approved a commitment of $75 million to Vida Ventures III, according to the pension’s recent investment activity report.

Vida Ventures is in market seeking $750 million of LP commitments for its third biotech and life science-focused fund. The Boston-based fund manager raised $600 million for the predecessor vehicle in 2019.

The $35.7 billion US pension has a private equity target allocation of 25 percent, which at present stands at 19.1 percent.

As illustrated below, TCDRS’s recent fund commitments have targeted a variety of private equity strategies across multiple sectors and regions.

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