Texas Employees Retirement System, Austin, invested or committed a total of $375 million in July to six alternative investment funds run by five managers, a transaction report for the $27.1 billion pension fund showed.
The largest commitment was $125 million from the pension fund's $7 billion fixed-income portfolio to existing manager Balance Point Capital Advisors. Portfolio managers of Balance Point Capital Partners V will seek private debt investment opportunities in middle-market companies.
Existing venture capital manager Industry Ventures received two commitments totaling $90 million, with $50 million going to Industry Ventures Lonestar and $40 million to Industry Ventures Secondary IX from ERS' $4.1 billion private equity/venture capital portfolio.
Mary Jane Wardlow, the pension fund's spokeswoman, could not immediately say whether the Lonestar fund is a separately managed account for ERS.
ERS also committed $10 million to CO20200710, a private equity co-investment. ERS does not identify the manager or nature of co-investments as a matter of policy.
ERS investment officers committed $75 million to existing manager Actis for investment in Actis Energy 5 from the pension fund's $1.1 billion private infrastructure portfolio. Actis' portfolio managers will invest in companies producing and distributing electricity in emerging market countries.
From the pension fund's $1.1 billion hedge fund portfolio, $75 million was invested with a new manager, Samlyn Capital, into Samlyn Onshore Fund, a long/short equity hedge fund.