The Employees Retirement System of Texas (ERS Texas) is accelerating its private equity allocation, targeting a $1bn portfolio value by 2030. At its board meeting on 26 August, the pension approved a commitment pace of $800 million for the upcoming fiscal year, up from $650 million in 2025. This increase reflects ERS Texas's strategic focus on the lower mid-market buyout space, supported by an expected influx of distributions over the next four years.

The pension aims to strengthen its private markets presence through disciplined capital deployment in this segment.