Texas Teacher Retirement System, Austin, is expanding its strategic partnership with private equity managers Apollo Global Management and KKR & Co., the $129.9 billion pension fund, said in a statement e-mailed by spokeswoman Juliana F. Helton.
The pension fund’s board on March 26 approved resolutions to give the managers up to $1 billion each for existing accounts and up to $1 billion each for new investments in tactical credit opportunities.
The new resolutions expand the separate accounts the two private equity firms manage for the pension fund to $5 billion each.
The pension fund had originally formed the partnerships with the firms in 2011, allocating up to $3 billion each to separate accounts the pension fund oversees.
Ms. Helton would not provide further information.
Meaghan Kilroy contributed to this story.