The Teacher Retirement System (TRS) of Texas made two commitments to infrastructure funds in the month of August, totaling $275 million.
TRS invested $75 million in the Actis Long Life Infrastructure Fund (ALLIF), managed by Actis GP and $200 million in North Haven Infrastructure Partners III, managed by Morgan Stanley Infrastructure. The commitments closed on Aug. 9 and Aug. 20, respectively.
ALLIF targets operating infrastructure assets across Latin America, Africa and Asia, while driving operational improvements over a long-term hold period. The fund held a final close on Aug. 14 with $1.23 billion in capital commitments.
Meanwhile, the North Haven Infrastructure Partners III launched in May, according to an SEC Form D filing. The fund manager, Morgan Stanley Infrastructure Partners, pursues a global OECD core-plus strategy focused on the acquisition of private infrastructure assets with the potential to be transformed into core assets.
Last month, the $154 billion teachers’ pension system said it would bump up its allocation to infrastructure.
The energy, natural resources and infrastructure portfolio invests in commingled funds, direct and co-investments, according to Texas TRS. It focuses on core, value-add and opportunistic assets in the resources and infrastructure sectors, such as agriculture, timber, and oil and natural gas projects across the delivery pipeline.
The pension fund voted to increase its energy, natural resources and infrastructure portfolio by 1 percent, as the result of its latest five-year study. The portfolio now has a 6 percent allocation to infrastructure.
