The Teachers' Retirement System (TRS) of Kentucky has invested $50 million in Carlyle Renewable & Sustainable Energy Fund II, according to a recent board meeting document.
Carlyle Renewable & Sustainable Energy Fund II is an opportunistic infrastructure fund managed by the Carlyle Group. Pitchbook estimates the fund’s predecessor to be $703 million; however, little information could be gleaned about Fund II at the time of publication.
As of June 30, 2021, Kentucky TRS had a 6 percent allocation to private equity, which encompasses infrastructure. The portfolio was valued at $1.5 billion.