Teacher pension assigns nearly $500m to PE

The $204 billion Teachers’ Retirement System of Texas (TRS) in Austin selected three additional private equity funds totaling $488 million last month.

The pension fund’s roughly $29 billion private equity portfolio was up 53.9% in 2021.

The largest mandate of €250 million ($273 million) was awarded to London-based Permira Investment Advisers Limited, which is raising capital for its Permira VIII, an international large buyout fund. The firm’s predecessor fund in the series closed at €11 billion in 2019.

Another large buyout, Hg Pooled Management’s Hg Saturn 3 A . . .

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