Searches and Hires

Texas Teachers commits $756 million to private equity, venture capital

Texas Teacher Retirement System committed a total of $756 million to four private equity and venture capital funds in December, a transaction report showed.

The largest commitment by the investment staff of the $146 billion fund was €275 million ($331 million) to EQT VII. The private equity fund, managed by EQT, will seek large buyout opportunities in Nordic and German-speaking regions in Europe.

Austin-based TRS has invested in and committed to various EQT funds and co-investments, including a total of $400 million to three funds during the previous two years.

The fund also allocated $200 million to TPG Lonestar I, run by existing manager TPG, for investment in large U.S. buyout opportunities.

TRS has invested in and committed to various TPG funds and co-investments, including a total of $625 million to three funds in 2017 and 2016.

The public school teachers' fund also selected two new managers for commitments: $125 million to Clearlake Capital Partners V and $100 million to Orchid Asia VII.

Clearlake Capital Group portfolio managers will seek distressed and special situations buyout opportunities among small to midsized U.S. companies.

Orchid Asia Group's focus will be on venture capital and growth capital investing in Chinese companies in sectors including consumer services and products, retail, technology, media and health care.