The Teacher Retirement System (TRS) of Texas has disclosed two new investments within its energy, natural resources and infrastructure (ENRI) portfolio.
The pension fund committed €150 million ($170 million) to the value-add InfraVia European Fund V, managed by InfraVia Capital Partners, and $100 million to the opportunistic Oaktree Power Opportunities Fund VI, managed by Oaktree Capital Management.
InfraVia European Fund V opened to investors in July 2021 but did not disclose a fundraising target. The previous fund in the series, InfraVia European Fund IV, closed in 2018 after reaching its €2 billion ($2.3 billion) hard cap.
Fund V will likely follow the same investment strategy as the other funds in the series, which focused on medium-sized European infrastructure assets characterized by growth opportunities in the communication, energy, transport and social infrastructure sectors. This