By Muskan Arora
The $193bn Texas Teacher Retirement System
has made a total commitment of $329m to its real estate sleeve, energy, natural
resources, and infrastructure (ENRI) sleeve and private equity sleeve.
In June, the system committed $180m to its
private equity portfolio, $75m to its real estate portfolio and $74.3m to its
ENRI portfolio.
The new commitments were disclosed in a
June transaction report by Robert Maxwell, media spokesperson for the system.
Private equity commitments
The first commitment, within the private
equity sleeve, is of $85m to Graham Partners VI, a buyout fund focused on
partnering with technology-based manufacturing companies in the North American
middle-market region.
Three primary sub-sectors of focus will be
industrial technology, medical devices and life sciences and food.
The second commitment is of $25m to NEA TS 2024 SPV, L.P., managed by NEA Management
Company. The venture capital fund focuses on investments in Asian region.
The third
commitment is of $70m to Kingswood Capital Opportunities Fund III, L.P.,
managed by Kingswood Capital Management, L.P.
Most recently,
the $94bn Ohio State Retirement System also committed $75m and $50m to
Kingswood Capital Opportunities Fund III.
The lower-middle market buyout fund focuses
on investments across North America.
The pension fund
allocates 16.9% to its private equity portfolio against a target of 14%, as of
December 31.
Both Kingswood Capital Management, L.P and Graham Partners, Inc. are new managers on the roster.
ENRI and real
estate commitments
Texas TRS
committed $75m to GreenPoint REPE Fund I, LP within its real estate portfolio,
managed by GreenPoint Group, LP.
The value-add
fund focuses on investments in Europe and has an existing relationship with the
allocator.
Further, the
system committed $74.3m to Riverbend XI, L.P., within its ENRI bucket, managed
by REG XI, L.P.
The
opportunistic fund focuses on investments across North America and has recently
been placed on the manager roster.
As of December 31, the pension fund allocates 15.4% to its real estate portfolio against a target of 15%; and 7% to its energy, natural resources, and infrastructure portfolio against a target of 6%.
