LLR Partners, Melange Capital Receive $130M from Texas ERS
The Employees Retirement System of Texas (ERS) has allocated $130 million in new commitments across private equity and infrastructure secondaries funds, according to recent disclosures.
Two $15 million allocations from the $39 billion Austin-based pension system went to private equity co-investment offerings connected with unidentified management firms. The system has a 16% weighting in private equity, although authorities are currently overweight with $6.8 billion, or 17% of the portfolio’s assets.
LLR Partners received a $50 million commitment for their LLR VII strategy, which is focused on lower middle market growth companies in the technology and healthcare industries. The firm also recently received a commitment from the Pennsylvania Public School Employees’ Retirement System totaling $125 million.
Within private infrastructure, which accounts for 6% of ERS assets, trustees approved a $50 million allocation to Melange Capital Partners’ Melange Energy Secondary Fund.