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Alternative Assets  + Private Equity  + Real Estate  |  January 18, 2024
Texas Teachers’ Retirement Pours $600M into RE, Buyout Funds
Joe Palmisano
By: Joe Palmisano

Texas Teachers’ Retirement Pours $600M into RE, Buyout Funds

The Teacher Retirement System of Texas recently added over $600 million to industrial real estate and buyout funds.

The $182 billion pension fund committed $250 million to Bridge Development Partners’ BDP Investment Vehicles Master Commitment in early December. BDP is an industrial real estate operating firm.

Alterra IOS Venture II, managed by Alterra Property Group, received a $100 million commitment. The Philadelphia-based company specializes in properties with zoning that allows for light vehicle and other parking, as well as storage containers or heavy equipment for the transportation, logistics, and construction industries.

A $100 million commitment was made to PAG Investment Advisors’ SCREP VIII. The opportunistic real estate fund, unlike prior vintages, focuses on European investments rather than Asia-Pacific properties.

Three new private equity funds have been added. Insight Partners manages two funds: Insight Partners XIII ($80 million) and Insight Partners XIII Growth Buyout Fund ($50 million). Insight Partners XIII will invest in software companies, mainly in the B2B software market in North America. The growth buyout fund is also seeking investments in software firms.

The third allocation ($75 million) went to Pollen Street Capital’s PSC V. The firm invests in European financial and business services.

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Inside The Story

Teacher Retirement System of Texas

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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