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Texas TRS adds $380m to infra portfolio

The commitments mark the pension fund’s latest vote of confidence for the asset class, which now make up nearly 2% of its assets under management.

The Teacher Retirement System of Texas, a $133 billion pension fund with $2.42 billion in infrastructure holdings, has approved an additional $380 million commitment to infrastructure and energy funds.

TRS pledged $200 million to Actis Energy 4 as well as $180 million to EQT Infrastructure Fund III, according to Infrastructure Investor data.

London-based Actis, which has raised over $2 billion for its latest energy fund since launching it in the third quarter of last year, has also attracted pledges from the Teachers’ Retirement System of the City of New York and the Employees Retirement System of Texas. Stockholm-based EQT is seeking €2.9 billion for its Infrastructure Fund III, which has also received contributions of $200 million each from the Oregon State Treasury and Oregon Public Employees’ Retirement System.

Austin-based TRS, founded in 1937 and serving approximately 1.5 million current and retired educators, has close to 1.9 percent of its assets under management in infrastructure and energy. In 2015, the pension fund invested a total of $325 million in Stonepeak Infrastructure Fund II and SIF-T, a sidecar vehicle, and an additional $250 million in Brookfield Infrastructure Fund III.