Texas Teacher Retirement System, Austin, committed a total of about $680 million to six managers, a transaction report showed.
Stonepeak Infrastructure Partners III received a $200 million commitment for investment in North American greenfield and brownfield projects in sectors including midstream energy, power and utilities, transportation, telecommunications and water. TRS commitments to prior Stonepeak funds total about $745 million.
In real estate, TRS made commitments to two co-investments focused on international developed markets. Invesco Real Estate Pan Asia Credit I received a $150 million commitment for special situations investments and CBRE Spanish Logistics Feeder SCSP, managed by CBRE Global Investors (Luxembourg), was allotted €17 million ($20 million) for opportunistic investments.
The $146 billion pension fund previously committed $350 million to Invesco real estate funds and $1.2 billion to CBRE funds.
Also in real estate, TRS committed $150 million to Related Fund Management, a new manager, for investment in U.S. special situations opportunities, according to the transaction report.
Abraaj Private Equity Fund VI(B), managed by Abraaj Group, was awarded a $100 million commitment for growth equity buyout investments in emerging and frontier markets. TRS committed $50 million to an earlier Abraaj fund.
Also in private equity, the pension fund committed $61 million to Apollo Global Management for AP Olympus Co-investment for a large U.S. buyout deal, according to the transaction report.
TRS has invested in numerous earlier Apollo funds and has earmarked up to $5 billion to the manager — which is one of the system's strategic partners — for investment in private equity strategies, including co-investments.
