Texas Pension Adds $368M to Real Estate, Energy Strategies 

The Teachers’ Retirement System of Texas, which oversees $180 billion in client assets, added four funds to its real estate and energy portfolios last month, according to newly released information. 

Most of the capital went to one fund in the energy, natural resources and infrastructure portfolio, which has a target of roughly $11 billion. 

The pension fund committed $250 million to Houston-based EnCap Investment for its EnCap Energy Capital Fund XII. The growth capital opportunistic strategy is oil- and gas-focused and follows a predecessor fund that closed at $7 billion in 2017. Other investors include Merced County Employees’ Retirement Association and Illinois Municipal Retirement Fund. 

In real estate, $118 million was allocated across three domestic strategies, including $17 million to Divco West Real Estate Services’ Divco Devco 455 First LP; $50 million towards GreenPoint Group’s GreenPoint TVP Partnership; and $51 million for Affinius Capital Advisors’ Guadalupe Partners GCDC LP. GreenPoint is a new manager for the pension system. 

The allocations follow $300 million private equity commitments in April. 

Hear from industry leaders in alternative assets like Capital Innovations Founder, CEO, CIO, and ADISA President Michael Underhill. Connect with top executives in private credit, real estate and more at the Connect Money: Alternative Assets Conference in Chicago on June 14 at the W City Center.