Texas Teacher Retirement System, Austin, committed a total of $1.39 billion to eight private market funds in February, a transaction report showed.
Real estate received the largest aggregate commitment — $600 million — from the $146 billion pension fund with $300 million earmarked for Brookfield Strategic Real Estate Partners III-B. Previous commitments to three Brookfield Asset Management funds, including the prior fund in the series, total $650 million.
Almanac Realty Investors was awarded commitments of $150 million each to commingled fund Almanac Realty Securities VIII and co-investment fund ARS VIII (SCI). The pension fund previously committed a total of $400 million to three Almanac funds, including the predecessor fund in the realty securities series.
Investment staff committed a total of $537 million to private equity funds with the largest commitment — $200 million — going to a new manager for the pension fund, American Securities, for investment in American Securities Partners VIII, a small- to middle-market buyout fund.
Bridgepoint Advisers was allotted €150 million ($187 million) for Bridgepoint Europe VI, a small- to middle-market buyout fund. Previous commitments by the pension fund to four previous Bridgepoint private equity funds, including the earlier fund in the Europe series, totaled $539 million.
Pension fund officials committed $150 million to Patria Brazilian Private Equity Fund VI, the same amount it committed to the previous fund in the family managed by Patria Investimentos.
From the pension fund's energy and infrastructure asset allocation, Digital Colony Partners received a commitment of $200 million for investment in U.S. infrastructure projects. The commitment is the pension fund's first to the fund's manager, Digital Colony Management.
KKR & Co., one of the pension fund's two private market strategic partners received a $50 million commitment to KKR Palo Verde Co-Invest for investment in diversified energy assets. KKR manages a total of $4.9 billion in a variety of strategies for the pension fund.