Teacher Retirement System of Texas is committing $75m (€69.4m) to a fund that will invest in real estate fund managers, according to the pension fund.

Inceptiv RED 2, which is managed by specialist private equity firm Inceptiv Management, provides independent real estate fund managers with general-partner equity, working capital and support in scaling their businesses.

It is the first time that Texas Teachers has invested with Inceptiv and the investment will form part of its opportunistic real estate portfolio.

Texas Teachers has also committed €30m to GIP Pegasus Fund, a European infrastructure fund managed by Global Infrastructure Partners, according to a summary of investment commitments made in March.

The investment will form part of the pension fund’s core infrastructure portfolio.