Texas Permanent School Fund, Austin, allocated a total of $238 million to four alternative funds and one traditional strategy in September.
Investment staff of the $34.6 billion educational endowment have discretion to make investments without the approval of the State Board of Education, which oversees the Permanent School Fund.
In response to a Freedom of Information Act request, the Texas SBOE provided an investment report. From the fund's private equity portfolio, $75 million was committed to PAG BRS Fund II, £41 million ($53 million) was committed to Inflexion Strategic Partners, a buyout fund managed by Inflexion Private Equity Partners; and $50 million was committed to FP Credit Partners, managed by Francisco Partners.
From the PSF's real estate portfolio, $20 million was committed to PA MAC Fund, managed by Portfolio Advisors.
The names of the managers for three of the alternative investment funds on the list could not be independently confirmed, and B. Holland Timmins, the fund's CIO, did not respond to an email request to identify the funds' managers.
Fund officers also continued to build up the fund's investment in Navarro 1, an emerging market equity separate account managed by BlackRock. In September, another $40 million was invested, bringing the separate account assets to $945 million, Mr. Timmins said in an email.