Updated with correction
Texas Teacher Retirement System, Austin, committed a total of $1.1 billion to five alternative investment strategies managed by existing managers, a June transaction report showed.
Investment officers of the $145.4 billion pension fund committed a total of $632 million to three private equity strategies.
The largest commitment was €340 million ($382 million) to Permira VII, a large buyout fund, managed by Permira Advisers, which will focus on investment opportunities in developed international markets.
Great Hill Partners received a $150 million commitment to Great Hill Equity Partners VII, a buyout fund seeking investments in middle-market companies in the U.S.
TRS investment officers also committed $100 million to U.S. venture capital fund New Enterprise Associates 17.
Existing real estate manager Banner Oak Capital Partners was awarded a $380 million commitment to Banner Oak Industrial Development Venture II. The fund's portfolio managers will employ an opportunistic strategy to find properties in U.S. markets.
From TRS' energy/natural resources/infrastructure portfolio, $100 million was committed to Padawan, a separate account associated with Paine Schwartz Food Chain Fund V. TRS committed $150 million to the fund, managed by Paine Schwartz Partners, in November. The main fund is a private equity strategy that invests in sustainable U.S.-based food producers.
Robert Maxwell, a TRS spokesman, said he could not elaborate on the nature of the Padawan strategy.
