Investors - DECEMBER 7, 2016

Texas Teachers commits $300m to energy fund

by Jody Barhanovich

The $132.7 billion Teacher Retirement System of Texas has committed $300 million to FR Ascent Co-Investment, managed by First Reserve Corp.

FR Ascent Co-Investment’s investment strategy is to invest in diversified energy and natural resources in the United States. The fund has raised $420 million in investments so far.

The pension fund previously committed $150 million to First Reserve Energy Infrastructure Fund II in March 2014. The closed-end fund held a final close in April 2014, raising $2.26 billion. In additional commitments to energy funds, Texas Teachers committed $200 million to Blackstone Energy Partners II in December 2014.

Texas Teachers's target allocation to energy, natural resources and infrastructure is 5 percent.


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