Texas Teachers’ commits $300m

The US public pension fund has backed a real estate debt fund.

Institution: Teacher Retirement System of Texas
Headquarters: Austin, Texas
AUM: $151.00bn
Allocation to alternatives: 31.51%
Bitesize: $200-500m

In October 2018, the Teacher Retirement System of Texas made a commitment of $300 million to Lone Star Fund XI. The Lone Star fund targets private equity control investments in companies, single-family residential real estate secured debt, corporate and consumer debt, and single-family residential real estate assets.

The $151 billion US public pension has a 1.61 percent allocation to private debt.

As illustrated in the charts below, Texas Teachers’ has made five private debt fund commitments between January and October 2018.

 

Platinum subscribers may click here for the pension’s full profile, including key contacts, allocation strategy and fund investments.