Texas Teacher Retirement System, Austin, disclosed more than $1.4 billion in private equity, real estate, and energy, natural resources and infrastructure commitments in December, according to an investment update emailed by spokesman Rob Maxwell.
Within real estate, the $211.6 billion pension fund committed $400 million to Blue Owl Real Estate (T), an opportunistic real estate fund managed by Blue Owl Capital; $130 million to AEW Transferred Asset Program T, a core real estate fund managed by AEW Capital Management; $75 million to opportunistic real estate fund Two Sigma Real Estate Opportunity Fund (A); $44 million to Guadalupe Partners Kincora, an opportunistic real estate fund managed by Affinius Capital Management; and $43 million to Inceptiv Sequoia, an opportunistic real estate fund managed by Inceptiv Management.
As of Sept. 30, the pension fund’s actual allocation to real estate was 14.1%; the long-term policy target is 15%.
Within its energy, natural resources and infrastructure asset class, TRS committed $150 million each to Northampton Capital Partners and SP Nexus Holdings, both value-added energy infrastructure funds managed by Northampton Capital Partners; $75 million to oil-and-gas and minerals royalties fund Brigham Royalties Fund I, an oil-and-gas and minerals royalties fund; and $25 million each to AL GCX Fund VIII Co-Invest-A, a value-added infrastructure fund managed by ArcLight Capital Partners, and KEPE Continuation Fund I, an energy fund managed by Kayne Anderson Capital Advisors.
As of Sept. 30, the pension fund’s actual allocation to ENRI was 6.8%; the long-term policy target is 6%.
Within private equity, TRS committed $125 million to buyout fund Oakley Capital VI-B1; $85 million to Falfurrias Capital Partners VI, a buyout fund managed by Falfurrias Management Partners; $65 million to growth and expansion fund GTCR Strategic Growth Fund II/A&B; $30 million to Jade II PB Coinvest, a buyout co-investment fund managed by Leonard Green & Partners; and $25 million to Becklar Holdings Partnership I, a buyout fund managed by Graham Partners.
As of Sept. 30, the pension fund’s actual allocation to private equity was 15.8%; the long-term policy target is 14%.
