FUNDRAISING NEWS | September 26, 2024
The Employees Retirement System of Texas (Texas ERS) has approved its FY 2025 commitment pacing plans for its private equity, real estate, private infrastructure, and private credit portfolios, per recently published meeting minutes from its August 21 board meeting.
In private equity, the expected commitment schedule for September 1 through August 31, 2025, includes a target of $650M in commitments to be diversified across 12 primary funds and five to nine co-investment funds.
$300M is the approved commitment target for the Texas ERS real estate portfolio. Commitments will be made across four to seven primary funds and one to two co-investment funds.
The pacing plan for private infrastructure includes a target of $200M in commitments to be made across three to eight primary funds, while allocating 40% of its commitments to co-investments.
Lastly, the approved private credit 2025 commitment pacing plan set a target of $200M in commitments focusing on follow-on investments with current portfolio strategies and managers.
All four approved pacing plans suggest a gradual increase in net cash flow production through fiscal-year 2028 and will be diversified across the risk spectrum.
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Jane Bailey is a Marketing Associate at Dakota.
