Texas Teachers’ makes $550m in commitments

Institution: Teacher Retirement System of Texas
Headquarters: Austin, Texas
AUM: $151.0bn
Allocation to alternatives: 31.51%
Bitesize: $200-500m

In October 2018, the Teacher Retirement System of Texas made commitments of $300 million to Lone Star Fund XI and $250 million to LaSalle Medical Office Fund III, according to an email from Rob Maxwell, investments communications specialist at the pension fund. 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. LaSalle’s fund will focus on medical offices in the US.

The $151 billion US public pension has an 14.0 percent target allocation to private real estate that currently stands at 11.8 percent.

As illustrated in the charts below, Texas Teachers’ has made three fund commitments between September and October 2018.

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