Institution: Texas Municipal Retirement System
Headquarters: Austin, United States
AUM: $34.5 billion
Allocation to private equity: 4.47%
Texas Municipal Retirement System has committed $605 million across six venture vehicles, according to the pension’s September 2021 Annual Investment Committee report.
The commitments include:
- $80m to Flagship Pioneering Fund VII
- $100m to PSG V
- $125m to Insight Partners XII
- $60m to Tribe Capital Fund II
- $40m to Techstars Accelerator 2021
- $200m to MTP Climate Infrastructure Fund
The $34.5 billion public pension has a 10 percent target allocation to private equity that currently stands at 4.47 percent.
As illustrated in the charts below, TMRS devotes 31.55 percent of its full investment portfolio to alternative assets. The pension has a strong appetite for North American vehicles.