TRS backs Astorg fund

Astorg held a final close of Astorg VII in January 2019. The fund had a target of €3.2bn and it closed on €4bn.

The fund is backed by public and corporate pension funds (32%), institutional asset managers (21%), insurance companies (16%) and sovereign wealth funds (10%). LPs are located in Europe (58%), North America (29%) and Asia (13%).

Some of the LPs committed to Astorg VII are Ventura County Employees' Retirement Association, Employees Retirement System of Texas, Los Angeles Fire and Police Pension System, Los Angeles City Employees Retirement System, and New York State Teachers' Retirement System.

TRS previously committed to Astorg VI, which held a final close in June 2016 on its €2.1bn hard-cap. The fund had deployed 40% of its capital as of March 2018, making nine deals from it and generating a net IRR of -3.2%.

The US pension scheme has also committed to Inflexion Partnership Capital Fund II, Inflexion Buyout Fund V, and New Enterprise Associates XVI.

TRS has invested 12.5% of its portfolio to private equity, below its target of 15%.

Approximately 75% of its total portfolio is invested in the Americas, 12% in Europe, and the remaining 13% in Asia.

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• Topics
• LPs
• Astorg Partners
• Inflexion Private Equity