Texas Teacher Retirement System, Austin, committed a total of $1.2 billion in March to six alternative investment strategies, all run by existing managers, a transaction report from the $153 billion pension fund showed.
Three commitments to private equity strategies totaled $720 million, with the largest allocation — $600 million — earmarked for investment in Blackstone Capital Partners VIII, managed by existing manager Blackstone Group. The buyout fund will seek investments in large U.S. companies.
The pension fund also committed $100 million to Crestview Partners IV, a small- to midsized U.S. buyout fund.
TRS also allocated $20 million to its Alamo fund for investment in a venture capital/growth equity separate account managed by existing manager KKR & Co., for investment in international emerging markets. The Alamo fund is a limited partnership agreement between KKR and TRS that will invest in various private market strategies, said Rob Maxwell, a spokesman for the pension fund.
From the pension fund's real assets portfolio, an aggregate $467 million was committed to three strategies, including $250 million to River Washington, a value-added U.S. real estate fund managed by Equity International Management.
Lionstone Partners received a $117 commitment for investment in Houston BBP, a fund that will invest in opportunistic properties in the U.S.
The EIM and Lionstone funds are single limited partner principal investments, Mr. Maxwell said.
Square Mile OCS Co-Investment was awarded a $100 million commitment for investment in U.S. opportunistic real estate by Square Mile Capital Management.
