Teacher Retirement System (TRS) of Texas has approved a $350m (€338.8m) commitment to Brookfield’s fifth global infrastructure fund.
TRS of Texas said it has backed Brookfield Infrastructure Fund V (BIF V), a fund seeking to raise $25bn.
Back in May, IPE Real Assets reported that the fundraising for BIF V is expected to be oversubscribed.
Brookfield raised $20bn for BIF IV which closed in February 2020, exceeding its original $17bn fundraising target as a result of strong investor demand.
TRS of Texas said it has also added I Squared Capital Advisors as a new manager within the pension fund’s infrastructure portfolio by making a $100m commitment to ISQ Growth Markets Infrastructure Fund, a value-add fund seeking to raise $2.5bn to target assets in emerging markets.
For real estate, TRS of Texas said it made a $200m commitment to the Abacus Multi-Family Partners VI value-add fund and backed Wheelock Street Real Estate Fund VII, an opportunistic US fund, with $100m.
Wheelock Street Capital did not respond to a request for comment. The fund manager has an investment history of investing capital into a variety of property types including master-planned communities, hotels, industrial and single-family.
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