Texas Teacher Retirement System, Austin, committed a total of $251 million to private equity and real estate funds in September, a transaction report showed.
The $156.4 billion pension fund committed $200 million to CBRE Strategic Partners U.S. Value 9, a value-added real estate fund managed by CBRE Global Investors, $26 million to Dragon Co-Investment Partners, a private equity fund managed by Clearlake Capital Group, and $25 million to PBC Allandale LP, a value-added real estate fund managed by Pennybacker Capital.
TRS has previously made multiple commitments to all three managers, most recently committing $50 million to Pennybacker V, $13 million to Clearlake's White Cypress Co-Investment Partners and €9 million ($9.8 million) to CBRE French Logistics Feeder SCSp SICAV-RAIF, a co-investment fund associated with CBRE Europe Value Partners 2 SCSp SICAV-RAIF.
The target allocations to real estate and private equity are 15% and 14%, respectively.
