The Texas Municipal Retirement System is set to commit up to $15bn over the next five years to a programme that will allow the $44bn pension fund to co-invest directly in private market transactions alongside its external fund managers, according to a report by Bloomberg.

CAZ Investments, a Houston-based alternative investments firm, has made a $400m commitment to the GP Stakes strategy of Bonaccord Capital Partners, a private equity firm specialising in non-control investments in leading middle-market sponsors.

August Equity, a UK private equity firm focused on the lower mid-market, has held the final close of Fund VI at an increased hard cap of £350m, making it the largest investment vehicle raised by the firm to date.

Blackstone has hit its $10bn fundraising target for its latest Asia-focused buyout fund, underlining investor appetite for the firm’s regional strategy despite a challenging private equity fundraising environment, according to a report by Bloomberg.

Brookfield Asset Management has launched its seventh flagship private equity fund, Brookfield Capital Partners VII, with a target of $12.5bn, according to a report by Buyouts Insider citing unnamed sources familiar with the matter.

Connecticut-based private equity firm Gemspring Capital Management has closed its second Growth Solutions Fund at $1.1bn in total capital commitments, reaching its hard cap after roughly three months in the market.