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.