Emulating a computer run time environment including: storing translated code in blocks of a translated code cache, each block of the translated code cache designated for storage of translated code for a separate one of the target executable processes, including identifying each block in dependence upon an identifier of the process for which the block is designated as storage; executing by the emulation environment a particular one of the target executable processes, using for target code translation the translated code in the block of the translated code cache designated as storage for the particular process; and upon encountering a context switch by the target operating system to execution of a new target executable process, changing from the block designated for the particular process to using for target code translation the translated code in the block of the translated code cache designated as storage for the new target executable process.