The $148 billion Texas Teacher Retirement System, Austin, committed $250 million to two funds from existing alternative investment managers in May, a transaction report showed.
The largest commitment was $200 million to Stonepeak Infrastructure Fund IV, managed by Stonepeak Infrastructure Partners.
Texas Teachers previously committed $200 million to the third fund in Stonepeak's infrastructure fund series in 2017 and in 2015 committed $250 million to the series' second fund. In 2016, TRS committed $75 million to a sidecar investment associated with Stonepeak Infrastructure Fund II.
The target allocation of the defined benefit plan's combined energy/natural resources/infrastructure asset class is 5.7%.
From the system's real estate portfolio, $50 million was earmarked in May for investment in Invesco Real Estate Asia Sidecar IV One.
The fund is managed by Invesco Real Estate and associated with Invesco Real Estate Asia Fund IV, to which TRS committed $100 million in February. Invesco's fourth Asian real estate fund focuses on investment opportunities in Australia, China and Japan.
TRS has previously committed and invested in numerous Invesco real estate funds. The system's target allocation to real estate is 13.7%.
