Texas Teacher Retirement System, Austin, committed more than $1 billion total to seven private equity and real assets funds in the fourth quarter, according to a transaction report provided to Pensions & Investments.
The $123.9 billion pension fund committed $689.5 million to four real assets funds:
- $250 million to Blackstone Real Estate Partners Europe IV, an opportunistic real estate fund managed by Blackstone Group;
- $219 million to Stonepeak Infrastructure Fund, a North American infrastructure fund managed by Stonepeak Infrastructure Partners;
- €135 million ($185.5 million) to AXA Independence Fund, a value-added European real estate fund managed by AXA Real Estate Investment Managers; and
- $35 million to Pennybacker III, a real estate fund managed by Pennybacker Capital Management and primarily focused on investing in Texas markets.
The pension fund also committed $365 million to three private equity funds. It committed $200 million to Carlyle Partners VI, a buyout fund managed by Carlyle Group; $150 million to Crestview Partners III, a middle-market buyout fund; and $15 million to Blue Sea Capital Fund I, a lower middle-market fund focused on the countries of former Yugoslavia.