Texas Teacher Retirement System, Austin, disclosed $681 million in commitments completed in March in an update emailed by spokesman Rob Maxwell.
Within real estate, the $211.6 billion pension fund committed $350 million to GCM Real Estate Strategic Platform Investments, an opportunistic real estate fund managed by GCM Grosvenor; $100 million to 1SP Seeding and Strategic Capital Fund III, an opportunistic real estate fund managed by 1 Seed Partners; and $25 million to Greystar GEPA Coinvest II, a value-added real estate co-investment fund managed by Greystar Real Estate Partners.
1 Seed Partners is a new manager for the pension fund. TRS previously committed $81 million to fund of one Texas GCM Opportunistic RE Investments in 2021 and $150 million was committed to Greystar Equity Partners Asia Pacific Fund I in 2022.
As of Sept. 30, the pension fund’s actual allocation to real estate was 14.1%; its long-term policy target is 15%.
Within its energy, natural resources and infrastructure asset class, the pension fund committed $100 million each to Karolia PIV and Kayne Private Energy Income Fund III, both energy funds managed by Kayne Anderson Capital Advisors; and $6 million to Blackstone Whitecap Co-Invest, an infrastructure co-investment fund.
Both are existing managers. TRS previously committed $25 million to Kayne’s KEPE Continuation Fund I in January and $150 million to opportunistic real estate fund Blackstone Real Estate Partners (Cayman) VII in 2023.
As of Sept. 30, the pension fund’s actual allocation to ENRI was 6.8%; its long-term policy target is 6%.
