Searches and Hires

Texas Teachers assigns $960 million in private equity, real assets

Texas Teacher Retirement System, Austin, made four private equity commitments totaling $760 million and one real assets commitment of $200 million.

The transactions occurred in September. The pension fund has existing relationships with all the managers involved in the transactions, Robert Maxwell, spokesman for the $151.2 billion pension fund, said in an email.

The private equity transactions are:

  • A $300 million commitment to Permira Star Opportunities SCSp, managed by Permira Investment Advisers, a large buyout fund focusing on developed international markets.
  • A $300 million commitment to Hellman & Friedman Capital Partners IX, a large buyout fund concentrating on the U.S. market.
  • A $150 million commitment to Vista Equity Partners Fund VII, a small/midcap market buyout fund focusing on the U.S.
  • A $10 million commitment to Amber Co-Investment Partners, a large buyout fund for the U.S. market, managed by Clearlake Capital Group.

The pension fund also made a $200 million commitment to Square Mile PE Partners A, managed by Square Mile Capital Management, which focuses on "real assets special situations" in the U.S. market, the news release said.

This is a strategy that the Texas fund "uses to classify real estate investments that we do not classify as core, opportunistic or value add," Mr. Maxwell wrote.