Texas Teacher Retirement System, Austin, completed a total of $715 million in private equity and real estate commitments in June, according to a transaction report emailed by spokesman Rob Maxwell.
Within real estate, the $204.7 billion pension fund’s investment officers committed $300 million to global real estate fund Blackstone Real Estate Partners X, and $10 million each to Kona Co-Invest and Mirai Co-Invest, two opportunistic real estate co-investment funds managed by Asia specialist manager PAG.
Both are existing managers for the pension fund. TRS committed $300 million to Blackstone Real Estate Partners IX in 2019 and previously committed $150 million to PAG’s SCREP VII, an opportunistic property fund seeking investments in international developed countries, in 2020.
As of Dec. 31, TRS’ actual allocation to real estate was 12.9%.
Within private equity, investment officers committed $210 million to buyout fund EQT X (No. 2) USA; $100 million to Elliott Alto Co-Investor Aggregator, a buyout fund managed by Elliott Investment Management; $75 million to Oakley Capital V-B1, a buyout fund managed by Oakley Capital; and $10 million to 10T DAE 3.0 Fund, a venture capital fund managed by 10T Holdings.
Both Elliott and Oakley are new managers for the pension fund. TRS previously committed $250 million to EQT Infrastructure V (No. 2) in 2020, and committed $20 million to venture/growth equity fund 10T AT Holdings in April, its first commitment to 10T Holdings.
As of Dec. 31, TRS’ actual allocation to private equity was 16.8%.
