Texas Teachers slates $417 million for 5 alts strategies

Texas Teacher Retirement System, Austin, committed $417 million to five alternative investments in February, a transaction report for the $153 billion fund showed.

The largest commitment — $150 million — was made from the fund's real assets portfolio to Square Mile TVC Co-Investment, managed by existing manager Square Mile Capital Management.

TRS made a number of commitments to the real estate debt manager's earlier funds, including $350 million to two funds in 2018.

Investment officers on the defined benefit plan's natural resources, energy and infrastructure team committed $100 million to Blackstone Infrastructure Partners (Supplemental Account T), a U.S.-based infrastructure fund, managed by Blackstone Group, an existing manager that manages a wide array of strategies for the fund.

In June, TRS committed $250 million to Blackstone Infrastructure Fund.

TRS spokesman Robert Maxwell did not immediately respond to an email request for more information about the Blackstone supplemental investment vehicle and other funds on the plan's most recent commitment report.

In private equity, TRS officials committed $75 million to TPG Tech Adjacencies, a venture capital/growth equity fund that will seek investment in U.S. technology companies. The pension fund has made numerous commitments to and investments in previous TPG funds.

TRS committed €50 million ($57 million) to PAI Partners, a new manager, for investment in PAI Liberty VIII, a buyout fund focused on investment in small and midsize companies in international developed countries.

TRS also earmarked $35 million in February to ASP BF Co-Invest, which is run by existing private equity manager American Securities.

TRS investment officers made the fund's first commitment to the manager with $200 million slated for American Securities Partners VIII, a buyout fund that seeks investment in small and midsize U.S. companies.