The $173.3 billion Texas Teacher Retirement System, Austin, committed a total of $345 million to five alternative investment funds in January, a transaction report showed.
The system's largest commitment by asset class was $250 million from the system's $34.4 billion private equity portfolio split between three managers.
Investment officers committed $100 million to Blue Bonnet SVP, a U.S. buyout fund managed by existing manager Great Hill Partners.
Another $100 million was earmarked for Alpine Management Services III, also an existing manager, for investment in its U.S. buyout fund Alpine Investors IX.
Greenbriar Equity Group, a new manager for TRS, received a commitment of $50 million to Greenbriar Equity Fund VI, another U.S. buyout fund.
The system's private equity portfolio accounted for 18.1% of plan assets as of Sept. 30 compared to TRS' 18.4% interim policy target, according to the system's website.
TRS investment officers also committed a total of $95 million to two managers from the fund's $11.4 billion energy, natural resources and infrastructure (ENRI) portfolio. Existing manager Blackstone Management Partners received a commitment of $50 million to Blackstone CHPE, a U.S. value-added strategy.
New manager Macquarie Asset Management was awarded a £37 million ($45 million) allocation. The fund's portfolio managers will seek investments in developed countries.
The system's ENRI portfolio was 6.6% of plan assets as of Sept. 30 compared to 6% for the fund's interim target.
