Texas Muni Discloses $445M to Alts

The Texas Municipal Retirement System (TMRS) disclosed four commitments between real assets, private equity, and private credit, totalling $445 million.

$150 million was allocated to SDC Digital Infrastructure Opportunity Fund IV. TMRS and fund manager SDC Capital Partners have an existing relationship.

A $75 million commitment was allocated to Flagship Pioneering Fund VIII. The commitment to Flagship Pioneering’s private equity growth investment strategy continues an existing investment relationship with TMRS.

Also in private equity, a $20 million investment was made to BCIS El Dorado Investors. TMRS and fund manager El Dorado Ventures have an existing relationship.

Lastly, a $200 million allocation was made to Chorus Capital Credit Fund V USD SCSp.This is a new relationship between Chorus Capital Management and TMRS.

As of March 31, the $40.5 billion Retirement System allocates 11.8% to private credit and 11.5% to both real estate and private equity. All allocations fall within the accepted policy range.

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