TRS approves $350m in commitments

The US public pension has backed two global infrastructure vehicles.

Institution: Teacher Retirement System of Texas
Headquarters: Austin, United States
AUM: $153.13bn
Allocation to alternatives: 31.10%
Bitesize: $200-500m

Teacher Retirement System of Texas (TRS) has agreed to commit $150 million to GEPIF III Side Car and $200 million to First Reserve Fund XIV, a contact at the pension informed Infrastructure Investor. GEPIF III Side Car is a co-investment vehicle to GEPIF III focusing on renewable energies investments whereas First Reserve Fund XIV is targeting the oil and gas sectors.

The $153.13 billion US public pension has a 5.0 percent target allocation to infrastructure that currently stands at 5.20 percent.

As illustrated in the charts below, TRS has made eight commitments to infrastructure funds with a 2018 or 2019 vintage, which combined constitute $1.23 billion.

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