Texas Teacher Retirement System, Austin, committed $368 million to four money managers in May, a report from the $179.4 billion system showed.
The largest allocation was $250 million to existing manager EnCap Investments' EnCap Energy Capital Fund XII, an opportunistic fund focused on oil and gas investments.
The allocation is from the system's $11.7 billion energy, natural resources and infrastructure portfolio. As of December 2022, TRS' actual allocation to the portfolio was 6.5% compared to the system's 6% long-term allocation, plan documents showed.
The three other managers the TRS investment team committed to in May were funded from the system's $31 billion real estate portfolio, with a total commitment of $118 million.
The pension fund committed $51 million to Guadalupe Partners GCDC, a fund of one managed by Affinius Capital Advisors, an existing manager for the system. The fund's focus is on U.S. opportunistic real estate opportunities.
New manager GreenPoint Partners received a commitment of $50 million to GreenPoint TVP Partnership, a co-investment fund focused on U.S. value-added real estate opportunities.
Divco West Real Estate Services, an existing TRS manager, received $17 million for investment in Divco Devco 455 First, a real estate fund-of-one whose portfolio managers are focused on opportunistic investments in U.S. properties.
As of Dec. 31, TRS' real estate portfolio's 17.2% allocation was above the long-term target of 15%.
