Texas Teachers add over $400 million to real estate, PE funds

The Teachers’ Retirement System of Texas in Austin selected four new funds to be housed within the real estate and private equity portfolios.

The $177 billion retirement fund allocated $365 million to its already $24 billion private equity program. Existing managers selected were Orchid Asia V Group Management and TA Associates. Orchid Asia VIII received a $75 million commitment, while TA XIV-A was tapped for a $190 million mandate.

A new manager, Providence Strategic Growth Capital Partners, was selected to manage $100 million in its PSG V fund. Another investor in that fund is the Washington State Investment Board that placed $200 million in the fund earlier this year.

In the $22 billion real estate program at the teacher’s system a $100 million commitment went to Harrison Street Advisors’ HSREP VIII Co-Investment 2.

In April, the pension fund allocated $320 million in real estate and infrastructure investments. The real estate portfolio had an allocation target of 15% of the TRS Trust and continues to be among the pension fund’s top-performing portfolios.

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