Texas Employees Retirement System, Austin, committed $260 million to four alternative investment strategies managed by three existing managers.
A December transaction report showed that from the system's $2.2 billion real estate portfolio, the investment team committed $150 million to opportunistic real estate manager Wheelock Street Capital, with $100 million going to Wheelock Street Long Term Value Fund and $50 million to Wheelock Street Real Estate Fund VI.
The $28.6 billion fund earmarked a $75 million commitment to PAG's Secured Capital Real Estate Fund VII, an opportunistic real estate fund that will seek investments throughout Asia with about 60% of assets to be invested in Japan.
From the system's $840 million infrastructure portfolio, Texas Employees committed $35 million to QGIF Sprint, a private infrastructure co-investment fund, managed by QIC.
Texas ERS investment officers previously committed or invested a total of about $68 million to QIC Global Infrastructure Fund, which seeks private infrastructure investment opportunities in Australia and in countries belonging to the Organization for Cooperation and Economic Development.