Texas Teachers commits $550 million to energy, real estate

Texas Teachers Retirement System, Austin, committed a total of $550 million to three private market investment strategies in March, a transaction report showed.

A total of $350 million was committed to two energy companies from the $151 billion fund's energy and natural resources portfolio, which has a target allocation of 5% of total plan assets.

The fund committed $200 million to a new manager, Echo Mineral Management, for investment in diversified U.S. energy projects.

Energy Capital Partners IV-A was allotted $150 million for investment in U.S. energy infrastructure projects in sectors including power generation, renewables, environmental infrastructure and electric transmission. TRS committed $150 million to the previous fund in the series, as well as $250 million to a co-investment associated with the earlier fund.

In real estate, TRS committed $200 million to CBRE U.S. Development Partners 5, which will be managed by CBRE Global Investors in U.S. opportunistic properties.

TRS previously invested or committed a total of $1.4 billion in a variety of CBRE real estate funds.

The fund's real estate target weighting is 14%.