Commits $75m to Pennybacker V, $37.5m to extended vehicle, and $150m to GIP IV. : Texas Municipal Retirement System (TMRS) has approved $263m (€233m) of new commitments to real estate and infrastructure funds managed by Pennybacker Capital and Global Infrastructure Partners (GIP), respectively. In a board meeting document, the $28.4bn pension fund said it will commit $75m to the value-add Pennybacker V fund and an additional $37.5m into an unnamed extended investment vehicle, while also committing $150m to Global Infrastructure Partners IV.