Texas Teacher Retirement System, Austin, completed a total of $264 million in infrastructure and private equity commitments in November, according to a transaction report emailed by spokesman Rob Maxwell.
The $181.7 billion pension fund committed $175 million to value-added infrastructure fund EQT Infrastructure VI (No. 2), $64 million in aggregate to four venture capital funds managed by General Catalyst Group and $25 million to Project Phoenix Co-Invest Fund, a buyout co-investment fund managed by Thoma Bravo.
The General Catalyst commitments were: $24 million to General Catalyst Group XII – Endurance, $16 million each to General Catalyst Group XII – Creation and General Catalyst Group XII – Ignition, and $8 million to General Catalyst Group XII – Health Assurance.
All are existing managers for the pension fund. TRS previously committed $210 million to buyout fund EQT X (No. 2) in 2022, $25 million to GC Venture XI (S) earlier in 2023, and $45 million to Project CS Co-Invest Fund, a Thoma Bravo fund, also earlier in 2023.
As of Sept. 30, the pension fund's actual allocations to private equity and its energy, natural resources and infrastructure asset class were 18% and 7.1%, respectively; their respective long-term targets are 14% and 6%.
