The Teachers Retirement System of Texas has committed $700 million to private equity according to a spokesperson for the pension. The commitments were included as part of the February meeting.
$250 million will go to TPG’s third growth fund. That fund is currently in market and targeting $3 billion, as PEI reported last week. Other known investors in the fund include the Teachers’ Retirement System of Louisiana. The fund targets global growth equity investments.
$150 million will go to Baring Asia Private Equity VI. That fund closed on $4 billion in February, PEI reported at the time. The fund will target companies in Asia as well as companies planning to expand into Asia.
Another $300 million will go to two Oaktree funds the Opportunities Fund X and Opportunities Fund Xb. Both vehicles will focus on distressed private equity and debt investments.
The pension recently announced a new strategic plan for 2015 as well which will focus on oil and energy investments. To that end TRS committed $250 million to Ridgewood Energy Oil & Gas Fund III. Ridgewood invests in exploration and production of oil projects in the U.S. deep waters of the Gulf of Mexico.