Texas Teacher Retirement System, Austin, committed a total of $718 million to five alternative investments in July, a transaction report from the $139.7 billion fund showed.
Slightly more than $300 million was earmarked for two private equity strategies: $200 million to GSO Capital Solutions Fund III, managed by GSO Capital Partners, and $105 million to HgCapital Principal Opportunities, a co-investment structure managed by Hg Pooled Management, a unit of HgCapital.
The GSO fund will focus on U.S. credit and special situations investment opportunities while HgCapital will concentrate on small- to midsized buyouts in developed countries outside the U.S.
Also, the pension fund aimed more than $260 million from its energy, natural resources and infrastructure portfolio to two managers. It committed $150 million to Avenue Energy Opportunities Fund II, managed by Avenue Capital Management II, for investment in a diversified portfolio of energy-related investments. EQT received $113 million for co-investments in infrastructure projects in non-U.S. developed countries.
The pension fund also committed $150 million to Invesco U.S. Income Fund, a core real estate fund managed by Invesco Advisers, according to the transaction report.