The Texas Teacher Retirement System (TRS), which manages $211.6bn in assets, has upped it private equity allocation with to new commitments totaling a combined $175m, according to a report any Pensions & Investments Online.
The report cites TRS spokesman Rob Maxwell as confirming in a an emailed statement, that in November, TRS allocated $100m to KCO Fund Co-Invest, a buyout co-investment fund managed by Kingswood Capital Management, plus $75m to Frazier Healthcare Growth Buyout Fund XI, a buyout fund managed by Frazier Healthcare Partners.
The commitment to Kingswood builds on a prior $70m investment TRS made in June to Kingswood Capital Opportunities Fund III. Meanwhile, Frazier Healthcare Partners represents a new addition to the pension fund’s roster of private equity managers.
As of September 30, TRS reported an actual allocation to private equity of 15.8%, exceeding its long-term policy target of 14%.
