The $162.7 billion Texas Teacher Retirement System, Austin, committed $880 million to three alternative investment funds in December, a transaction report showed.
From the system's $22.2 billion real estate portfolio, $600 million was committed to Invesco Real Estate GPA, run by existing manager Invesco Real Estate. The fund's portfolio managers will acquire opportunistic properties in international developed markets.
The Invesco fund is a separately managed account for TRS, spokesman Robert Maxwell confirmed. TRS has committed and invested in multiple Invesco real estate strategies.
The system's investment officers also committed $200 million to Madison International Prime Property Investors Series II, which will focus on equity financing real estate transactions involving high-quality core real estate properties in the U.S.
TRS committed $200 million to the first fund in Madison International Realty's first fund in the series in January 2018.
Peak Rock Capital, a new manager for TRS, received an $80 million commitment for Peak Rock Capital Fund III from the system's $23.8 billion private equity portfolio, the report showed.
The buyout fund's portfolio managers will seek to acquire opportunistic, distressed and underperforming U.S. companies.