Texas Teacher Retirement System, Austin, completed $261 million in private equity and real estate commitments in October, according to an investment update emailed by spokesman Rob Maxwell.
The $202 billion pension fund committed $150 million to buyout fund Thoma Bravo Discover Fund V; $50 million to value-added real estate fund Faropoint Industrial SLB Fund; $27 million to CD&R Raven Co-Investor, a buyout co-investment fund managed by Clayton, Dubilier & Rice; €22 million ($24 million) to PSC Leto, a European buyout fund managed by Pollen Street Capital; and $10 million to Valor Summit 1.0, a venture capital fund managed by Valor Management.
TRS previously committed $150 million to Thoma Bravo Discover Fund IV and $250 million to Clayton, Dubilier & Rice Fund XII, both in 2022, and $75 million to Pollen Street Capital’s PSC V in 2023. Faropoint and Valor Management are new managers for the pension fund.
As of June 30, the pension fund’s actual allocations to private equity and real estate were 16.5% and 14.4%, respectively.
