Texas Teacher Retirement System, Austin, committed a total of $499 million in March to alternative investment funds run by six managers, a monthly transaction report showed.
The largest aggregate commitment from the $179.3 billion pension fund — $299 million — went to four managers from the retirement system's private equity portfolio.
Investment officers of the pension fund committed $175 million to TA XV-A, a U.S. buyout fund run by existing manager TA Associates.
New manager Valeas Capital Partners received a $50 million commitment to Sherman Opportunity Fund, a U.S. buyout fund.
Also from TRS' private equity portfolio, €45 million ($49 million) was committed to existing manager Hg Capital for Hg Mercury 4, a buyout fund focused on international developed markets.
New manager General Catalyst Group was awarded a $25 million commitment to GC Venture XI (S), a U.S. venture capital fund.
In addition, TRS investment staff committed $100 million to existing real estate manager Pennybacker Capital's Pennybacker VI, which focuses on U.S. value-added properties.
Investment officers also committed $100 million to ISQ Co-investment Fund (Texas), a fund of one, from the retirement system's Energy Natural Resources Infrastructure portfolio, TRS' spokesman said in an email.
The fund is managed by existing manager I Squared Capital Advisors (U.S.) focuses on opportunistic international investments.
TRS did not provide information about the size of the retirement system's energy natural resources infrastructure portfolio, real estate portfolio or private equity portfolio.
