Texas Teachers Adds $170M to Energy, Co-Investment Funds

The Teacher Retirement System of Texas added $170 million to alternative investments in October, largely in an energy fund strategy.

Ridgewood Energy PIV was chosen by officials for a $150 million allocation. The opportunistic investment follows a $100 million commitment to Ridgewood Energy Oil & Gas Fund V earlier this year. The fund focuses mainly on deepwater drilling in the Gulf of Mexico.

The $188 billion Austin-headquartered pension fund has $12 billion within its energy, natural resources and infrastructure program, which gained 9.7% over the 12-month period through June 30.

Meanwhile, a $20 million commitment was made to Project Rock Co-Invest Fund in the fund’s private equity portfolio. The Thoma Bravo Advisors’ fund focuses on buyout opportunities in the United States.

For the fiscal year ending June 30, the pension’s $32 billion private equity fund lost 3.5%. Over the same period, the entire investment program returned 5.5%.