Teacher Retirement System of Texas (TRS) has approved a $200m (€204.2m) commitment to a US opportunistic real estate strategy managed by investment firm PCCP.
The pension fund disclosed in a meeting document that it had made the commitment to PCCP Clipper Venture II.
PCCP declined a request for comment.
TRS backed PCCP Venture I, the manager’s first venture in the series, in 2015 with a $50m commitment.
TRS also disclosed making a $75m commitment to the EIV Co-investment Bakken limited partnership, an opportunistic US energy infrastructure investment strategy managed by EIV Capital.
The pension fund also placed $25m into the Energy Capital Partners-managed ECP V co-investment vehicle which targets opportunistic deals in international developed markets. It also backed Global Infrastructure Partners with a €21.6m commitment to the GIP IV Gutenberg Co-Investment and placed $3.1m into the GIP IV Seaway Co-Invest 2 value-add fund.
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