TMRS approves $150m commitment

The US public pension has backed Orion's third mining finance fund.

Institution: Texas Municipal Retirement System
Headquarters: Austin, United States
AUM: $27.59bn
Allocation to alternatives: 14.42%
Bitesize: $50-100m

Texas Municipal Retirement System (TMRS) has agreed to commit $150 million to Orion Mine Finance Fund III, according to a recent report on the pension’s website. The fund focuses on the origination of subordinated / mezzanine debt in the mining sector.

As illustrated in the charts below, TMRS has made five commitments to private debt funds with a 2018 or 2019 vintage.

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