Texas Muni Discloses $963M to Alts

The Texas Municipal Retirement System has disclosed nine commitments totalling $963 million. Investments were made to real estate, private credit, private equity and real assets.

In real estate, $200 million was allocated to Invesco Core Real Estate. 

In private credit, $250 million was allocated to Adams Street Private Credit Fund III-A. An additional $200 million was allocated to TPG Real Estate Credit Opportunities. 

Five investments were made to private equity. $100 million was allocated to Silver Hill Energy Partners IV, $75 million was allocated to One Rock Emerald Fund, $17 million was allocated to Arctic DC Holdings, $40 million was allocated to Altaris VI-4042, and $50 million was allocated to Appian Zilker PV1. 

Lastly, in real assets, $31 million was allocated to MTP Zilker AV1. 

As of December 31, 2023, the Retirement System had a market value of $39.1 billion. The current asset allocation to real estate is 12.3%. Private credit has a current allocation of 6.0%, 11.2% of the fund is allocated to private equity, and 8.9% is allocated to other public and private markets including real assets. All asset allocations fall within the policy range.

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Written By: Jane Bailey, Marketing Associate

Jane Bailey is a Marketing Associate at Dakota.