The $154.6 billion Texas Teacher Retirement System, Austin, committed $525 million to three private equity/venture capital managers in November, a monthly transaction report showed.
Members of the plan's private equity team awarded the largest commitments to two existing managers, with $200 million earmarked for Kohlberg Investors IX-B, a buyout fund seeking investment in small- to midsize U.S. companies, managed by Kohlberg & Co.
Green Equity Investors VIII, a U.S.-focused large buyout fund managed by Leonard Green & Partners, a long-time manager for TRS, received a $175 million commitment.
A $150 million commitment was made to new manager Insight Partners for investment in Insight Partners XI, a venture capital fund. The fund's portfolio managed will invest in software, enabled services, and Internet businesses, primarily in the U.S. and Europe.
TRS' target weighting to private equity is 14% of plan assets.