Investment officers of the $34 billion Texas Municipal Retirement System, Austin, committed a total of $150 million to two existing alternative investment managers, according to its most recent investment report dated Oct. 31.
From the system's $4.6 billion real estate portfolio, $100 million was committed to Stonepeak Infrastructure Partners' Stonepeak Real Estate Partners Master Co-Investment Partners fund on Oct. 19.
TMRS investment officers previously committed $150 million to the value-added real estate fund on July 12, an earlier investment report showed.
The system's team also committed $50 million to Pemberton Mid-Market Debt Fund III USD Co-Investment, a direct lending fund. The commitment to Pemberton Asset Management was made on Oct. 24, according to the report. The commitment was from the defined benefit plan's $7.2 billion non-core fixed-income portfolio.
As of Oct. 31, TMRS investment officers committed or invested a total of $4.3 billion from a total of 31 money managers running 37 strategies across all asset classes except core fixed income, the report showed.