The Texas Municipal Retirement System (TMRS) is to allocate $425 million in investment commitments to private equity, according to a report by Private Equity International.

Foundry 2022, Dunes Point Capital Fund III, and Tritium III have all been allocated $75 million, while Updata Partners VII and FTV VII have secured commitments of $100 million, taking TMRS' total PE commitment to 7.7 per cent, still someway short of its 10 per cent target.