Texas Teacher Retirement System, Austin, committed a total of $2.36 billion to 16 private market funds and co-investment vehicles in the quarter ended Dec. 31, a transaction report provided to Pensions & Investments showed.
The $129 billion pension fund committed an aggregate $1.13 billion to seven real estate funds during the three-month period:
- UWS Co-Investment 9 fund, managed by Westbrook Partners, $465 million;
- BSREP CARS Co-Invest Pooling fund, managed by Brookfield Strategic Real Estate Partners, $200 million;
- Square Mile Credit Partners, a real estate debt fund managed by Square Mile Capital Management, $150 million;
- $100 million each to Almanac Realty Securities VII and ARS VII (Sidecar I), a companion co-investment, both managed by Almanac Realty Investors;
- Iron Point Real Estate Partners III Co-Investment, $100 million, managed by Iron Point Partners; and
- Homestead Capital USA Farmland Fund I, $15 million.
Commitments totaling $450 million were made to two energy funds: GSO Energy Partners-D, managed by GSO Capital Partners, $250 million; and Blackstone Energy Partners II, managed by Blackstone Group, $200 million. GSO is a Blackstone Group subsidiary.
Four private equity funds split an aggregate $527 million in commitments: Bridgepoint Europe V, $247 million; $100 million each to Roark Capital Partners IV fund and STAR RC IV, a companion co-investment vehicle, both managed by Roark Capital Group; Square Mile Tactical Partners, a private equity debt fund, $50 million; and Raine Partners II, managed by The Raine Group, $30 million.
Finally, a pair of venture capital funds received commitments, with $150 million going to Insight Venture Partners IX, and $100 million to Lightspeed Venture Partners Select.