The $28.6 billion Texas Employees Retirement System, Austin, committed $137 million to four alternative investment funds in November, a transaction report showed.
The largest commitment made by investment officers from the fund's $858 million infrastructure portfolio was $100 million to KKR Asia Pacific Infrastructure Investors, run by existing manager KKR & Co. The fund's managers will seek infrastructure investments with limited downside risk in the Asia-Pacific region.
Existing manager TA Associates was awarded a $20 million commitment to TA Select Opportunities Fund-A from the plan's $4.1 billion private equity/venture capital portfolio. The fund's portfolio managers will make minority growth equity investments in companies previously invested in by TA's private equity funds that are experiencing a full or partial exit led by an independent third-party money manager.
From ERS' $3.1 billion real estate portfolio, $10 million was committed to Camber Creek Fund III, a venture capital fund that targets investments in technology companies that serve the real estate market. Camber Creek is a new firm for the system.
A $7 million commitment also was made from the real estate portfolio to CO20191120, a co-investment fund. As a matter of policy, ERS does not identify the manager or strategy of co-investments.
