The Teachers' Retirement System (TRS) of Kentucky has committed $50 million to the Carlyle Renewable & Sustainable Energy Fund.
The fund opened to investors in November 2019 and had raised $135.8 million as of March 2020, according to a document filed with the SEC. A fundraising target was not disclosed in the filing.
The fund’s strategy could also not be gleaned at the time of publication, however. In January, The Carlyle Group committed $374 million to Amp Solar Group Inc. on behalf of its Renewable & Sustainable Energy Fund.
As of June 30, 2020, TRS Kentucky’s alternative asset portfolio, consisting of private equity investments (including exposure to infrastructure, energy, mezzanine, venture, buyout, and several other sectors) and timberland, had a market value of $1.465 billion.
The percentage of the trust’s portfolio invested in alternative assets was 7.1 percent.
