Texas Teacher Retirement System, Austin, committed a total of nearly $600 million to three alternative investment co-investments in August, a transaction report from the $139.7 billion pension fund showed.
The largest co-investment commitment was $250 million to Energy Capital Partners from the fund's $5.3 billion energy/natural resources/infrastructure portfolio. The co-investment is in conjunction with domestic diversified energy fund Energy Capital Partners III; TRS committed $150 million to the fund in April 2016.
Greystar Real Estate Partners, a new manager for the pension fund, received a $200 million commitment from the $17.2 billion real estate portfolio for a co-investment focused on U.S. opportunistic real estate, according to the transaction report.
Investment staff also committed €125 million ($148 million) from the pension fund's $17 billion private equity portfolio to a co-investment managed by Cinven that will focus on large buyout opportunities in international developed countries. The pension fund committed €345 million to Cinven VI in April 2016.