Texas Teachers’ Retirement Fund Adds Nearly $500M to Alternatives Program
The Teacher Retirement System of Texas, which manages $180 billion in assets, added one real estate fund and three infrastructure funds totaling $500 million to its program in June, according to recently released information.
In the pension system’s roughly $30 billion real estate portfolio, Blackstone was retained with a $150 million commitment to its BREP Europe VII (Cayman) fund, which is reportedly going to hold its first close in the second half of this year.
In the $11 billion energy, natural resources and infrastructure program, the Encap Agamar fund received a commitment of $99 million that will be an opportunistic strategy managed by energy sector specialist EnCap Investment. Macquarie won a $150 million mandate for its Macquarie Infrastructure Partners VI, which is the latest offering within the flagship platform
Lastly, a new manager was selected to run a US opportunistic mandate. The Formentera Partners Fund II was awarded a $100 million allocation.