Texas Teacher Retirement System, Austin, committed a total of $1.222 billion to six alternative investment strategies in May, a transaction report for the $127 billion pension fund showed.
An aggregate $744 million was committed to four private equity funds. The largest allocation — $300 million — was to TPG Partners VII. The fund will seek large buyout investment opportunities in North America, Asia and Europe.
A total of $300 million was committed to two smidcap buyout funds managed by Vista Equity Partners — $200 million for Vista Equity Partners Fund VI and $100 million for Vista Foundation Fund III. Both funds will focus on investments in software and technology companies in North America.
Bridgepoint Capital’s BDC II D was given $144 million for investment opportunities in developed countries worldwide.
In real estate, TRS committed $278 million to Lone Star Real Estate Fund V, managed by Lone Star Funds. Between 70% and 80% of Fund V’s assets will be invested in distressed real estate debt in Western Europe; the balance will be invested in the U.S. and Japan.
Divco West Real Estate Services received a $200 million commitment for DivcoWest Fund V for deployment in office and R&D properties in Austin, Texas; Los Angeles; New York; Portland, Ore.; Raleigh, N.C.; Seattle; Silicon Valley (Calif.); and Washington.
