TRS approves $75m commitment

The US public pension has backed Blackstone's life sciences-focused direct lending fund.

Institution: Teacher Retirement System of Texas
Headquarters: Austin, United States
AUM: $152.20bn
Allocation to alternatives: 31.10%
Bitesize: $100-200m

Teacher Retirement System of Texas has agreed to commit $75 million to Blackstone Life Sciences V, a contact at the pension informed Private Debt Investor.

Private debt sits within TRS’ private equity portfolio, which currently makes up 13.90 percent of the US public pension’s $152.20 billion total assets.

As illustrated below, TRS has made seven commitments to private debt funds with 2018 or 2019 vintage, which combined constitute $1.09 billion.

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