Texas Teacher Retirement System, Austin, completed a total of $785 million in infrastructure, private equity and real estate commitments in July, according to a transaction report emailed by spokesman Rob Maxwell.
Within its energy, natural resources and infrastructure asset class, the $199.9 billion pension fund's investment officers committed $350 million to Brookfield Infrastructure Fund V-A, managed by Brookfield Asset Management; and $100 million to ISQ Growth Markets Infrastructure Fund, managed by I Squared Capital.
Brookfield is an existing manager for TRS in multiple asset classes. Most recently, TRS committed $100 million to large buyout fund CP V Scientific Games Co-Invest U.S. in March.
I Squared Capital is a new manager for the pension fund.
As of March 31, TRS' actual allocation to energy, natural resources and infrastructure was 5.3%; the target is 5%.
Within real estate, investment officers committed $200 million to Abacus Multi-Family Partners VI, a value-added fund managed by Abacus Capital Group; and $100 million to Wheelock Street Real Estate Fund VII, an opportunistic fund managed by Wheelock Street Capital.
The pension fund has previously made one commitment to each manager: $50 million to Abacus Multi-Family Partners V in 2020, and $75 million to Wheelock Street Real Estate Fund VI in 2019.
As of March 31, TRS' actual allocation to real estate was 13.8%; the target is 13%.
Within private equity, investment officers committed $25 million to BCAP VI QP, a venture capital and growth equity fund managed by Blockchain Capital, and $10 million to NIV Fund II, a venture capital and growth equity fund managed by North Island Ventures.
Both are new managers for the pension fund.
As of March 31, TRS' actual allocation to private equity was 17.7%; the target is 16.8%.