Texas Teachers Commits $381M to Real Estate, Energy Assets
The Teacher Retirement System of Texas (TRS) has recently allocated $381 million to real estate and real assets investments, continuing to put capital to work across income-generating property and energy strategies. The moves come within the system’s roughly $30 billion real estate portfolio and a broader real assets allocation.
On the property side, TRS approved a $321 million allocation to Madison International Prime Property Investors Columbus Retail, a U.S. core real estate strategy managed by Madison International Realty. Madison is an existing manager in TRS’ real estate program.
Within the energy sleeve of the real assets portfolio, TRS committed $60 million to GulfTex Energy VI Holdings. The fund is a recapitalization of GulfTex Energy V and is overseen by GulfTex Management, a new manager relationship for TRS. GulfTex Energy VI closed at $1 billion and attracted capital from lead investor Endurance Investment Partners and PGIM Energy Partners.
GulfTex Energy, based in San Antonio, is an oil and gas exploration, production and development company. The firm has leased more than 100,000 net acres and drilled over 150 horizontal wells.