Texas Teacher Retirement System, Austin, committed a total of $1.25 billion to eight alternative investment strategies in April, a transaction report showed.
Investment officers of the $145.4 billion pension fund committed a total of $510 million to three real estate funds from two existing managers.
Lone Star Funds was awarded a total of $500 million, with $300 million earmarked for Lone Star Real Estate Fund VI, an opportunistic real estate fund focused on opportunities in developed international countries. Lone Star Residential Mortgage Fund II received a $200 million commitment for investment in U.S. real asset opportunities, the transaction report showed.
CBRE Global Investors received an €9 million ($10 million) commitment to CBRE French Logistics Feeder SCSp SICAV-RAIF, a co-investment fund associated with CBRE Europe Value Partners 2 SCSp SICAV-RAIF.
TRS committed a total of $389 million to three private equity strategies, including €225 million to Seventh Cinven Fund (No. 1), a large buyout fund focused on opportunities in international developed countries, managed by existing manager Cinven Capital Management.
The defined benefit plan also committed €100 million to Timberlake, a separately managed small- to midsized buyout private equity account, run by existing manager Triton Investment Management, to seek investments in international developed countries.
TRS also committed $25 million to GHP CI Aggregator, a U.S.-focused, large buyout private equity co-investment associated with Great Hill Equity Partners VI, TRS committed $150 million to the private equity fund in 2017. The fund and the co-investment are managed by Great Hill Partners.
From the pension fund's energy, natural resources and infrastructure portfolio, existing manager First Reserve Management, received a commitment of $200 million for investment in First Reserve Fund XIV, a diversified energy fund whose portfolio managers will look for investment opportunities in the U.S.
BlackRock, also an existing manager, was allotted a $150 commitment to GEPIF III Side Car T, whose portfolio managers will invest in U.S. infrastructure projects.
Robert Maxwell, a TRS spokesman, said he could not provide more information about the BlackRock fund.
