The Texas Municipal Retirement System (TMRS) has approved up to $600 million in private equity manager searches for 2016.
The pension plan, which began investing in private equity last year, will run a $150 million search each quarter and place the money with up to three managers.
It has already pledged $75 million to GSO Capital Opportunities Fund III, the latest in GSO Capital Partners’ mezzanine series and which launched this year, as PDI revealed.
