The $156.4 billion Texas Teacher Retirement System, Austin, committed a total of $965 million to eight alternative investment funds in October, a transaction report showed.
The investment team for the fund's $9.1 billion energy/natural resources/infrastructure portfolio committed $600 million to three funds.
The largest commitment was $300 million to BIF IV Co-Invest (T), managed by existing manager Brookfield Asset Management Private Institutional Capital Adviser (Canada). The co-investment fund is associated with Brookfield Infrastructure Fund IV-A, an international developed markets-focused fund to which TRS committed $300 million in May.
TRS committed $200 million to FR Finalizer, a separate account managed by First Reserve Management, an existing TRS manager, to invest in diversified energy opportunities in the U.S., TRS spokesman Robert Maxwell said in an email.
Global Infrastructure Partners, a new manager for TRS, was awarded a $100 million commitment to Infra Investors II, which will invest in infrastructure projects in developed markets outside the U.S.
A total of $365 million was committed to five funds from TRS' $20.7 billion real estate portfolio, the transaction report showed.
Commitments of $100 million each were earmarked for new U.S.-focused real estate funds from existing managers DivcoWest Real Estate Services and Square Mile Capital Management.
Portfolio managers of DivcoWest Fund VI-A will seek value-added properties while Square Mile Partners VI will focus on opportunistic investments.
Wheelock Street Capital, a new manager, received a $75 million commitment to Wheelock Street Real Estate Fund VI for investment in opportunistic properties in North America.
TRS also committed $65 million to MREF TT Co-Invest, managed by Mack Real Estate Credit Strategies. In September, TRS committed $225 million to Mack Real Estate Finance fund, which focuses on lending for transitional properties in prime markets in the U.S.
TRS also committed $25 million to Pennybacker EIV, a value-added, U.S.-focused extension fund managed by Pennybacker Capital. In July, TRS committed $50 million to Pennybacker V.
