Teacher Retirement System (TRS) of Texas has committed $1bn (€891m) to real estate across five strategies, according to its October investment disclosures.
The pension fund made a $500m allocation from its core real estate portfolio to the IDR Strategic Opportunities Fund, managed by IDR Investment Management.
The fund provides secondary liquidity solutions to help general partners manage redemption queues across core and core-plus open-ended funds, according to sources familiar with the fund.
TRS of Texas committed $200m to Almanac Realty Securities X alongside $100m to its affiliated co-investment sidecar, ARS X.
Managed by NB Alternatives Advisers, the fund provides growth capital to private and public real estate companies.
The pension fund also allocated $150m to PB VII Coinvest, a sidecar supporting Pennybacker Fund VII, and $50m to Artemis HC III Sage.
Alongside its real estate deployments, TRS of Texas committed capital to energy, natural resources, and infrastructure strategies, including $100m commitments each to Brookfield Infrastructure Fund VI-B and NGP Natural Resources XIV, as well as $75m to Ara Energy Fund I.
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