Institution: Texas Municipal Retirement System
Headquarters: Austin, US
AUM: $34.5 billion
Allocation to alternatives: 36.3%
Texas Municipal Retirement System has committed $250 million across two infrastructure vehicles, according to the pension recent board meeting materials.
The commitments comprise $150 million to Pioneer Infrastructure Partners and $100 million to Activate Capital Partners II. TMRS currently invests in infrastructure through its Other Public and Private Market portfolio.
According to the $34.5 billion pension’s 2022 pacing plan, it aims to allocate $1.5 billion worth of modelled commitments to the asset class. As of Q3 2021, the OPPM portfolio comprises 11 percent of the retirement fund. Private assets makes up 4.1 percent (approximately $1.5 billion) of the OPPM portfolio. TMRS intends to make the OPPM securities entirely private market assets by 2024.
Illustrated below are the full investment portfolio and recent fund commitments.
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