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Texas Teachers allocates $1.28B to 7 managers

by trusted insight posted 8years ago 767 views
Venture Capital
Texas Teacher Retirement System, Austin, committed or invested a total of $1.28 billion to eight private investment funds in June according to Pensions & Investments. 

An aggregate commitment of $680 million was split among four private equity/venture capital funds and co-investment vehicles, said Juliana Fernandez Helton, a spokeswoman for the $132.4 billion pension fund, in an e-mail.

The pension fund committed $250 million to EQT VII (No. 2) and $180 million to Permira Advisers for its Ithaca fund. Both are buyout funds focused on investment in non-U.S. markets. Also in the private equity portfolio, $150 million was committed to Star Trinity, a domestic venture/growth equity fund managed by Insight Venture Partners, and $100 million to LTF Co-invest, managed by Leonard Green & Partners.

A total of $450 million was also committed to three real estate funds. The pension fund committed $200 million to CBRE Wood Partners Development Fund 4, managed by CBRE Global Investors; and $250 million to Principal Real Estate Investors — $100 million to Principal Green Property Fund II, and $150 million to companion fund, Principal Green Property Fund Sidecar II.

The pension fund also invested $150 million in hedge fund Avenue Energy Opportunities Fund, managed by Avenue Capital Group.