Teacher Retirement System of Texas committed $200m (€173m) to new real estate and infrastructure investments in September, according to a recent asset class summary.
The $209.5bn pension fund created a new real estate manager relationship with Feldberg Capital, committing €75m to the Verto Logistics JVCo to make opportunistic investments in Europe.
Texas Teachers also placed $100m into Temerity Strategic Partners II, an opportunistic US real estate strategy managed by Temerity Strategic Partners.
Partners II follows a strategy of issuing commitments to other managers’ joint ventures, focusing on apartments and retail property types. It targets net internal rates of return between 15% and 18%.
Partners II’s fundraising details are currently unknown. The initial fund in the series closed in November 2024, securing over $175m in commitments.
Texas Teachers also approved its first-ever commitment with Tailwater Capital via a $25m allocation to the Tailwater Infrastructure CV I fund for opportunistic infrastructure investments in the US.
Tailwater is known for investing in energy infrastructure assets.
| Manager/GP | Fund/Vehicle | Commitment | Strategy/Focus | Geography |
|---|---|---|---|---|
| Feldberg Capital | Verto Logistics JVCo | €75m | Opportunistic logistics | Europe |
| Temerity Strategic Partners | Temerity Strategic Partners II |
$100m | Opportunistic real estate (apartments, retail) | US |
| Tailwater Capital | Tailwater Infrastructure CV I | $25m | Opportunistic infrastructure (energy value chain) | US |
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