Texas Teacher Retirement System, Austin, committed up to $943 million to five alternative investment funds.
The $154 billion pension fund assigned $300 million to Lone Star Fund XI, a real estate debt fund managed by Lone Star Funds and $250 million to LaSalle Medical Office Fund III a real estate fund managed by LaSalle Investment Management that invests in medical office buildings in the U.S.
The pension fund also committed $150 million to BlackRock's Global Energy & Power Infrastructure Fund III and $100 million to Empire RR Energy, a diversified energy fund managed by Energy Capital Partners Management. In addition, the pension fund committed up to €125 million ($143 million) to Triton Fund V, a buyout fund managed by Triton Investment Management focusing on small- and midmarket opportunities in Europe.
The pension fund has existing relationships with all the managers involved in the transactions, spokesman Robert Maxwell said.
All transactions occurred in October.
