Thursday, 27 October 2016
Last updated 25 min ago
Jan 31 2013 | 11:12am ET
The Texas Teachers' Retirement System made a huge private-equity buy in the fourth quarter, deploying more than $1.1 billion.
The beneficiaries of the $112 billion pension's largesse include firms both familiar and new. A substantial chunk went to Kohlberg Kravis Roberts' Special Situations Fund as part of a $3 billion special account set up two years ago. KKR got $200 million in new money, Buyouts magazine reports.
Another firm with a similar arrangement, Apollo Global Management, also received new commitments, as did the Blackstone Group's GSO Capital Solutions Fund II, which received $200 million.
Silver Lake Partners and Wayzata Investment Partners each received $150 million. Energy Capital Partners received $100 million.
Texas Teachers has a 12% private equity target.