The Teacher Retirement System of Texas (TRS) committed $125 million to Oaktree Power Opportunities Fund VII in April.
Oaktree Power Opportunities Fund VII, a vehicle of Oaktree Capital Management, is an opportunistic fund focused on investing in companies that provide products and services to owners of infrastructure, such as electric power, natural gas, water, wastewater, and other energy and utility-related assets in North America and Europe.
The fund aims to raise $2.5 billion in equity. Its predecessor, Oaktree Power Opportunities Fund IV, had a fundraising goal of $2 billion.
TRS, a public pension fund, has $207.3 billion in total assets under management, as of Dec. 31, 2024. As of then, it had a 6 percent infrastructure allocation target, with $14.3 million in total infrastructure assets.
