Texas Teacher Retirement System, Austin, committed a total of $620 million to five alternative investment strategies in December, a transaction report showed.
Investment officers of the $157.6 billion fund committed $200 million to new manager Revcap Advisors for investment in Whiteberry Partners, a separately managed account, fund spokesman Robert S. Maxwell confirmed in an email.
Portfolio managers of the account will seek opportunistic real estate investments in Europe. Funding will come from TRS' $21.7 billion real estate portfolio.
Four commitments to four existing managers were made from the system's $23.1 billion private equity portfolio, the largest of which was $200 million earmarked for BPEA Bluebonnet Partners, a co-investment separate account managed by Baring Private Equity Asia. TRS' transaction report said portfolio managers of the Bluebonnet fund will focus on investments in international emerging markets.
TRS also committed $20 million to Cinven Broadway, a U.S. large buyout co-investment fund run by Cinven Capital Management.
Clearlake Capital Group received a $125 million commitment to Clearlake Capital Partners VI for investment in small to midsize U.S. buyout deals.
The TRS private equity team also committed $75 million to Blackstone Group's i-Capital Blackstone Life Sciences V Access Fund, which will make investments in life-sciences companies in the U.S.