ESBD_File_255490_Private Markets Fund Investment Types.xlsx

XLSX spreadsheet 90 KB Posted Jun 26, 2025

Attached to: Master Custodian and Securities Lending Services
Solicitation number: CC-2200001
Issued by: Texas

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Written by GovTribe AI · Jun 26, 2025

This Excel file is a quarterly investment portfolio report for the Teacher Retirement System of Texas, detailing private markets investments across four primary investment categories: Private Equity, Real Estate, Energy/Natural Resources/Infrastructure (ENRI), and Strategic Partnerships as of December 31, 2020. The document provides comprehensive data on numerous investment funds, including their vintage years, commitment amounts, contributions, distributions, and net asset values.

The report reveals a diverse investment strategy with commitments totaling billions of dollars across multiple investment managers and fund types. Investment performance varies, with internal rates of return (IRR) ranging from negative percentages to over 30% across different funds and sectors. Key investment partners include prominent private equity firms such as Apollo, Blackstone, KKR, Brookfield, and others, with investments spanning global markets and diverse sectors including technology, real estate, energy, infrastructure, and strategic partnerships. The portfolio demonstrates a sophisticated, multi-faceted approach to institutional investment, balancing risk and potential returns across different asset classes and investment strategies.

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Private Equity

Teacher Retirement System of Texas - Private Equity Investments
As of 12/31/2020 Quarterly General Partner Reporting
Legal Investment Name	Investment Manager	Vintage Year	Commitment	Contributions	Distributions	Net Asset Value	Since Inception IRR	Last NAV Date
Aberdeen Emerging Asia Pacific II (Offshore), L.P.	Aberdeen Capital Management LLC	2009	100,000,000	102,059,750	60,100,914	55,242,379	2.0%	9/30/2020
Advent International GPE VI-A Limited Partnership	Advent International Corporation, Manager	2008	200,000,000	205,357,241	420,768,147	0	16.6%	12/31/2019
Advent International GPE VII-C Limited Partnership	Advent International Corporation, Manager	2012	150,000,000	141,000,000	162,675,022	106,013,189	15.3%	12/31/2020
Alamo L.P.	Kohlberg Kravis Roberts & Co. L.P.	2018	507,361,782	361,078,945		322,086,153	-7.4%	12/31/2020
Allstar Co-Invest L.P.	Kohlberg Kravis Roberts & Co. L.P.	2011	140,560,000	140,761,787	141,203,672	184,266,656	14.7%	12/31/2020
ALPHA PRIVATE EQUITY FUND 5, Pixys US LP	APEF Management Company 5 Limited	2006	17,026,668	17,026,668	24,857,002	727,987	8.3%	12/31/2020
Amber Co-Investment Partners, LLC	Clearlake Capital Management Opportunities, L.P.	2018	12,800,000	10,019,739	964	11,287,975	5.3%	12/31/2020
American Securities Partners VII, L.P.	American Securities LLC	2016	200,000,000	184,155,940	28,259,293	191,342,166	7.0%	12/31/2020
American Securities Partners VIII, L.P.	American Securities LLC	2019	200,000,000	45,132,624	379,596	40,704,031	-12.4%	12/31/2020
AP Highlands Co-Invest, L.P.	Apollo Co-Investment Management, LLC	2019	162,000,000	160,164,103	6,071,626	168,647,699	4.6%	12/31/2020
AP Inception Co-Invest, L.P.	Apollo Co-Investment Management, LLC	2016	126,903,553	125,431,647	68,774,573	216,283,968	21.9%	12/31/2020
AP Olympus Co-Invest, L.P.	Apollo Co-Investment Management, LLC	2017	60,913,706	60,184,615		106,174,919	19.2%	12/31/2020
AP Selene Co-Invest, L.P.	Apollo Management VII, L.P.	2011	77,069,746	78,806,521	139,928,678	0	22.2%	12/31/2016
Apax Europe V – A, L.P.	Apax Europe V GP Co. Limited	2001	87,024,945	87,050,781	187,086,629	0	36.3%	12/31/2017
Apax Europe VII – A, L.P.	Apax Europe VII GP Co. Limited	2007	692,574,227	750,702,521	936,750,490	0	4.4%	12/31/2019
Apax VIII – A, L.P.	Apax VIII GP Co. Limited	2012	200,000,000	231,531,935	338,056,378	0	12.0%	12/31/2019
Apollo Alamo PE, L.P.	Apollo Alamo GP, LLC	2019	200,000,000	52,183,694	13,196,275	60,708,900	50.2%	12/31/2020
Apollo Credit Opportunity Fund II, L.P.	Apollo Credit Opportunity Management, LLC	2008	400,000,000	397,448,180	597,157,019	906,085	31.5%	12/31/2020
Apollo Investment Fund VI, L.P.	Apollo Management VI, L.P.	2006	250,000,000	239,412,704	399,135,103	4,768,745	8.7%	12/31/2020
Apollo Investment Fund VII, L.P.	Apollo Management VII, L.P.	2008	750,000,000	734,501,490	1,303,171,092	68,062,646	22.3%	12/31/2020
Apollo Parallel Partners A, L.P.	Apollo Management VII, L.P.	2009	50,000,000	20,404,722	39,433,898	0	38.7%	12/31/2012
ASP BF Co-Invest LP	American Securities LLC	2019	35,000,000	11,876,827	8,934	24,598,844	96.2%	12/31/2020
Austin Ventures VIII, L.P.	AVP Management Services, Inc.	2001	55,333,334	56,793,186	92,052,464	958,907	6.8%	12/31/2020
Austin VI LP	Bridgepoint Advisers Limited	2021	45,883,122	0		0
Avenue Special Situations Fund V, L.P.	Avenue Capital Management II, L.P.	2007	550,000,000	555,134,506	734,541,411	0	11.1%	12/31/2017
Bain Capital Fund VIII, L.P.	Bain Capital Partners, LP	2004	35,000,000	36,388,176	70,254,080	36,328	12.2%	12/31/2020
Bain Capital Partners VIII, L.P.	Bain Capital Partners, LP	2001	50,000,000	49,948,313	139,515,571	5,254,441	37.5%	12/31/2020
Bain Capital VIII Coinvestment Fund, L.P.	Bain Capital Partners, LP	2004	37,500,000	36,604,167	67,973,647	51,082	12.4%	12/31/2020
BCP VII CO-INVEST – STAR L.P.	Blackstone Management Partners L.L.C.	2017	450,000,000	231,247,246	19,708,648	444,458,466	42.6%	12/31/2020
BDC III Co-investment LP	Bridgepoint Advisers II Limited	2017	33,157,964	21,826,458	3,327,476	27,223,597	19.6%	12/31/2020
BDC III D LP	Bridgepoint Advisers II Limited	2017	132,320,285	96,971,016	16,224,602	168,496,364	41.0%	12/31/2020
BDC IV A LP	Bridgepoint Advisers II Limited	2021	54,677,974	0		0
BE VI 'B' LP	Bridgepoint Advisers Limited	2018	177,208,930	68,844,310	13,265,134	67,069,789	20.1%	12/31/2020
Blackstone / GSO Capital Solutions Fund, LP	Blackstone Alternative Credit Advisors LP	2009	600,000,000	746,680,551	961,703,907	5,061,089	13.3%	12/31/2020
Blackstone Capital Partners IV L.P.	Blackstone Management Partners IV L.L.C.	2003	185,012,814	184,055,295	513,454,757	4,291,391	36.3%	12/31/2020
Blackstone Capital Partners V L.P.	Blackstone Management Partners L.L.C.	2006	600,000,000	583,039,895	982,844,211	24,871,165	9.2%	12/31/2020
Blackstone Capital Partners VI L.P.	Blackstone Management Partners L.L.C.	2011	400,000,000	419,676,680	454,146,455	254,726,262	12.7%	12/31/2020
Blackstone Capital Partners VII L.P.	Blackstone Management Partners L.L.C.	2016	450,000,000	460,341,378	52,258,140	542,454,715	15.1%	12/31/2020
Blackstone Capital Partners VIII L.P.	Blackstone Management Partners L.L.C.	2020	600,000,000	0		-3,556,887		12/31/2020
Blackstone GTS Co-Invest L.P.	Blackstone Management Partners L.L.C.	2014	82,500,000	76,034,407		147,203,288	10.8%	12/31/2020
Blackstone Life Sciences V L.P.	Blackstone Life Sciences Advisors L.L.C.	2020	75,000,000	8,197,011	8,496	8,804,598	12.3%	12/31/2020
Blue Holdings Co-Invest, L.P.	Kohlberg Kravis Roberts & Co. L.P.	2011	27,135,000	27,135,000	56,521,032	0	18.1%	12/31/2015
BPEA Bluebonnet Partners, L.P.	Baring Private Equity Asia Group Limited	2020	200,000,000	16,881,742		16,017,883	-5.1%	12/31/2020
Bridgepoint Europe IV ‘D’ L.P.	Bridgepoint Advisers Limited	2008	267,607,237	256,377,443	347,778,742	48,801,867	9.7%	12/31/2020
Bridgepoint Europe V ‘B2’ LP	Bridgepoint Advisers Limited	2016	229,393,356	224,385,833	107,262,348	235,671,582	15.9%	12/31/2020
Bridgewater Associates Intermediate Holdings, LP	Bridgewater Associates Holdings, Inc.	2012	250,000,000	250,000,000	182,479,274	337,404,677	11.1%	12/31/2020
Candover 2001 Fund U.S. No. 5 Limited Partnership	Arle Capital Partners Limited	2002	87,634,354	90,118,995	150,203,925	0	17.8%	12/31/2015
Carlyle Europe Partners III, L.P.	CIM Global LLC which is sub advised by CIM LLC	2007	135,698,028	139,375,756	219,917,741	8,056,234	10.9%	12/31/2020
Carlyle Europe Partners IV, L.P.	CIM Global LLC which is sub advised by CIM LLC	2015	165,000,000	170,164,290	194,749,622	0	5.5%	12/31/2019
Carlyle Partners III, L.P.	Carlyle Investment Management L.L.C.	2000	100,000,000	106,704,229	233,580,509	0	23.3%	12/31/2014
Carlyle Partners IV, L.P.	Carlyle Investment Management L.L.C.	2005	200,000,000	196,331,792	398,965,093	0	13.0%	3/31/2020
Carlyle Partners V, L.P.	Carlyle Investment Management L.L.C.	2007	500,000,000	489,806,419	840,617,845	49,439,490	13.5%	12/31/2020
Carlyle Partners VI, L.P.	Carlyle Investment Management L.L.C.	2013	200,000,000	213,404,131	269,160,085	0	8.3%	12/31/2019
Carlyle Star Co-Investment Fund, L.P.	Carlyle Investment Management L.L.C.	2021	100,000,000	0		0
CCMP Capital Investors III, L.P.	CCMP Capital Advisors, LLC	2014	200,000,000	195,425,727	85,359,671	238,684,940	12.6%	12/31/2020
CCP IX LP No.2	Charterhouse Capital Partners LLP	2009	368,038,152	358,745,541	407,756,668	57,819,530	9.0%	12/31/2020
CCP VIII LP No.2.2	Charterhouse Capital Partners LLP	2006	136,227,761	122,891,640	117,812,626	0	-0.7%	12/31/2020
Cerberus Institutional Partners, L.P. – Series Four	Cerberus Institutional Management II, LLC	2007	100,000,000	92,704,896	159,680,279	5,473,732	8.9%	12/31/2020
CH Holding L.P.	Kohlberg Kravis Roberts & Co. L.P.	2011	100,000,000	100,000,000	361,279,637	0	29.4%	12/31/2017
Cinven Broadway Limited Partnership	CINVEN PARTNERS LLP	2019	20,000,000	20,211,303		22,321,506	10.1%	12/31/2020
Cinven Saturn Limited Partnership	CINVEN PARTNERS LLP	2017	150,783,975	83,409,588		199,992,623	30.2%	12/31/2020
Clayton, Dubilier & Rice Fund IX, L.P.	Clayton, Dubilier & Rice, LLC	2014	250,000,000	285,690,236	266,633,267	276,882,408	22.7%	12/31/2020
Clayton, Dubilier & Rice Fund VIII, L.P.	Clayton, Dubilier & Rice, LLC	2009	250,000,000	221,682,809	555,668,582	37,697,853	26.2%	12/31/2020
Clayton, Dubilier & Rice Fund X, L.P.	Clayton, Dubilier & Rice, LLC	2018	325,000,000	219,440,172	75,872,924	266,232,512	32.8%	12/31/2020
Clayton, Dubilier & Rice Fund XI, L.P.	Clayton, Dubilier & Rice, LLC	2020	200,000,000	0		-944,372		12/31/2020
Clearlake Capital Partners V, L.P.	Clearlake Capital Management V, L.P.	2018	125,000,000	115,113,771	35,146,758	185,005,676	50.0%	12/31/2020
Clearlake Capital Partners VI, L.P.	Clearlake Capital Management VI, L.P.	2020	125,000,000	32,003,027	1,042,331	34,557,424	22.7%	12/31/2020
Co-Invest Platform (No. 1) SCSp	EQT Fund Management S.à r.l.	2016	297,300,151	109,035,181	47,709,990	98,418,765	14.8%	9/30/2020
Crestview Advisors II, L.P.	Crestview Advisors, L.L.C.	2008	200,000,000	234,498,703	319,597,599	112,209,380	14.1%	12/31/2020
Crestview Advisors III (FF), L.P.	Crestview Advisors, L.L.C.	2014	26,660,000	20,967,730	13,218,639	19,477,435	17.7%	12/31/2020
Crestview Advisors III, L.P.	Crestview Advisors, L.L.C.	2014	200,000,000	162,052,016	89,310,111	130,544,142	12.0%	12/31/2020
Crestview III ETS Co-Investors, LLC	Crestview Advisors, L.L.C.	2018	25,000,000	25,000,000		28,384,504	6.7%	12/31/2020
Crestview Partners IV (Bluebonnet), L.P.	Crestview Advisors, L.L.C.	2021	100,000,000	0		0
Crestview Partners IV, L.P.	Crestview Advisors, L.L.C.	2019	100,000,000	5,413,582		14,051,475	159.6%	12/31/2020
CVC Capital Partners Asia Pacific III L.P.	CVC Capital Partners Advisory Company Limited	2008	350,000,000	349,348,971	521,392,959	32,808,971	12.9%	12/31/2020
CVC European Equity Partners III L.P.	CVC Capital Partners Advisory Company Limited	2001	75,000,000	73,885,212	208,101,400	4,811,975	41.0%	12/31/2020
CVC European Equity Partners IV (D) L.P.	CVC Capital Partners Advisory Company Limited	2005	123,835,848	113,958,205	225,043,913	159,214	16.8%	12/31/2020
CVC European Equity Partners Tandem Fund (A) L.P	CVC Capital Partners Advisory Company Limited	2007	206,796,319	207,184,439	276,351,093	181,998	6.8%	12/31/2020
CVC European Equity Partners V (B) L.P	CVC Capital Partners Advisory Company Limited	2008	382,798,802	415,297,345	808,974,428	17,591,820	16.6%	12/31/2020
Diamondleaf Co-Investment Partners, LP	Clearlake Capital Group, L.P.	2020	19,950,000	15,007,624		17,369,822	15.7%	12/31/2020
Dragon Co-Investment Partners, L.P.	Clearlake Capital Group, L.P.	2019	26,000,000	20,032,055	16,660	40,432,272	74.1%	12/31/2020
Dyal Capital Partners III Co-Invest Horizon (US) LP.	NB Alternatives Advisers, LLC	2015	50,000,000	50,457,608	11,757,229	143,976,207	24.5%	12/31/2020
Element Co-Investment Limited Partnership	Bridgepoint Advisers Limited	2016	100,000,000	79,835,932	80,402,145	90,113,279	22.6%	12/31/2020
Element II Co-Investment Limited Partnership	Bridgepoint Advisers Limited	2017	48,000,000	41,734,203	27,144,104	45,299,331	22.2%	12/31/2020
EQT IX (NO.2) USD SCSP	EQT Fund Management S.à r.l.	2020	200,000,000	0		8,840,729		12/31/2020
EQT VII (No. 2) Limited Partnership	EQT Fund Management S.à r.l.	2016	286,527,728	269,365,118	187,276,506	352,569,521	26.5%	12/31/2020
EQT VIII (NO.2) SCSP	EQT Fund Management S.à r.l.	2018	317,115,867	221,987,146		314,664,619	34.9%	12/31/2020
EQT VIII Co-Investment (A) SCSp	EQT Fund Management S.à r.l.	2019	108,528,790	108,628,790		215,603,199	48.7%	12/31/2020
First Reserve Fund IX, LP	FRC Founders Corporation	2001	122,444,258	122,444,258	361,138,603	0	47.2%	9/30/2010
GCM Grosvenor Emerging Opportunities Fund (2005-1 Series)	GCM Grosvenor Capital Management	2005	250,000,000	267,535,555	371,135,194	16,553,117	7.4%	12/31/2020
GCM Grosvenor Emerging Opportunities Fund (2007-1 Series)	GCM Grosvenor Capital Management	2007	300,000,000	369,174,448	474,959,614	42,588,079	8.9%	12/31/2020
GCM Grosvenor Emerging Opportunities Fund (2008-1 Re-Investment Series)	GCM Grosvenor Capital Management	2008	100,000,000	97,376,745	124,815,801	41,628,530	12.8%	12/31/2020
GCM Grosvenor Emerging Opportunities Fund (2008-2 MMBO Partnership Investment Series)	GCM Grosvenor Capital Management	2009	300,000,000	322,319,923	495,851,801	80,045,785	16.7%	12/31/2020
GCM Grosvenor Emerging Opportunities Fund (2010-1 PE Series)	GCM Grosvenor Capital Management	2010	100,000,000	114,305,979	110,815,210	55,990,628	11.1%	12/31/2020
GCM Grosvenor Emerging Opportunities Fund (2014-1 PE Series)	GCM Grosvenor Capital Management	2014	49,780,679	55,605,806	31,378,627	35,041,010	5.8%	12/31/2020
GCM Grosvenor Emerging Opportunities Fund (2015-1 PE Series)	GCM Grosvenor Capital Management	2015	117,288,625	112,332,905	84,340,134	68,158,053	13.5%	12/31/2020
GHP Co-Invest I, LLC	GHP VI, LLC	2019	25,000,000	25,000,000		20,936,498	-10.0%	12/31/2020
Gores Capital Partners II, L.P.	The Gores Group	2007	97,800,000	102,948,147	132,804,653	2,889,946	7.2%	12/31/2020
Gores Capital Partners III, L.P.	The Gores Group	2010	250,000,000	266,302,888	269,548,797	18,911,938	2.6%	12/31/2020
Great Hill Equity Partners V, L.P.	Great Hill Partners, L.P.	2014	150,000,000	154,500,000	248,434,885	123,048,953	24.9%	12/31/2020
Great Hill Equity Partners VI, L.P.	Great Hill Partners, L.P.	2017	150,000,000	138,627,491	46,503,393	206,924,608	56.5%	12/31/2020
Great Hill Equity Partners VII-Pref, L.P.	Great Hill Partners, L.P.	2020	150,000,000	6,396,953		29,342,855		12/31/2020
Green Equity Investors V, L.P.	Leonard Green & Partners, L.P.	2007	200,000,000	198,098,109	393,653,525	86,035,587	18.4%	12/31/2020
Green Equity Investors VI, L.P.	Leonard Green & Partners, L.P.	2012	200,000,000	219,269,293	164,852,527	239,597,586	15.3%	12/31/2020
Green Equity Investors VII, L.P.	Leonard Green & Partners, L.P.	2017	300,000,000	265,252,482	28,832,712	406,864,784	24.6%	12/31/2020
Green Equity Investors VIII, L.P.	Leonard Green & Partners, L.P.	2020	175,000,000	23,033,459		22,252,734	-12.1%	12/31/2020
GSO Capital Opportunities Fund III LP	GSO Capital Partners LP	2016	200,000,000	182,975,765	79,729,682	131,754,666	9.7%	12/31/2020
GSO Capital Solutions Fund II, LP	Blackstone Alternative Credit Advisors LP	2014	200,000,000	134,451,208	112,679,445	19,516,408	-0.8%	12/31/2020
GSO Capital Solutions Fund III LP	Blackstone Alternative Credit Advisors LP	2018	200,000,000	56,687,482	20,655,777	37,579,761	2.4%	12/31/2020
GSO Co-Investment Fund-D LP	GSO Capital Partners LP	2017	200,000,000	40,743,579	8,231,245	43,366,102	13.7%	12/31/2020
GTCR XIII/A&B LP	GTCR LLC	2020	100,000,000	0		-66,065		12/31/2020
H&F Flashdance Partners I, LP	Hellman & Friedman LLC	2018	25,000,000	25,038,096	195,214	38,378,172	19.3%	12/31/2020
H&F Unite Partners, L.P.	Hellman & Friedman LLC	2019	150,000,000	150,097,150		178,967,263	11.1%	12/31/2020
Hellman & Friedman Capital Partners IX, L.P.	Hellman & Friedman LLC	2019	280,000,000	127,808,783		140,924,824	15.9%	12/31/2020
Hellman & Friedman Capital Partners V, L.P.	Hellman & Friedman LLC	2004	75,000,000	67,737,414	181,882,621	0	27.8%	12/31/2018
Hellman & Friedman Capital Partners VI, L.P.	Hellman & Friedman LLC	2007	100,000,000	97,168,205	179,565,484	1,792,498	12.9%	12/31/2020
Hellman & Friedman Capital Partners VIII, L.P.	Hellman & Friedman LLC	2016	175,000,000	176,214,721	31,533,069	243,344,223	19.2%	12/31/2020
Hg Genesis 9 A L.P.	Hg Pooled Management Limited	2021	152,943,739	0		-633,350		12/31/2020
Hg Saturn 2 A L.P.	Hg Pooled Management Limited	2020	50,000,000	2,579,327	1,174,143	5,475,937	191.3%	12/31/2020
HgCapital 5 A L.P.	Hg Pooled Management Limited	2006	50,809,308	45,703,950	61,743,526	681,210	7.4%	12/31/2020
HgCapital 6 A L.P.	Hg Pooled Management Limited	2009	193,838,753	183,505,471	283,986,255	13,138,737	10.1%	12/31/2020
HgCapital 8 A L.P.	Hg Pooled Management Limited	2018	164,756,813	117,764,227	28,081,307	148,027,816	44.2%	12/31/2020
HgCapital Principal Opportunities, L.P.	Hg Pooled Management Limited	2017	184,237,260	112,251,964	13,393,219	152,972,848	36.0%	12/31/2020
Highland Capital Partners VI-B Limited Partnership	Highland Capital Partners LLC	2001	50,000,000	50,000,000	79,294,712	1,754,177	11.5%	12/31/2020
Hony Capital Fund VIII (Cayman), L.P.	Hony Capital VIII Management Limited	2016	150,000,000	156,622,741	24,818,340	138,555,322	1.3%	12/31/2020
Igloo Co-Invest LLC	Igloo Manager Co-Invest, LLC	2010	50,000,000	49,977,116	131,986,058	0	22.3%	6/30/2017
Insight Partners XI, L.P.	Insight Venture Management, LLC	2020	150,000,000	72,300,000	14,428	92,283,466	64.5%	12/31/2020
Insight Venture Partners IX, L.P.	Insight Venture Management, LLC	2014	150,000,000	153,518,363	65,088,436	412,464,494	32.2%	12/31/2020
Insight Venture Partners VIII, L.P.	Insight Venture Management, LLC	2013	150,000,000	158,463,164	284,499,777	178,729,240	22.3%	12/31/2020
Insight Venture Partners X, L.P.	Insight Venture Management, LLC	2018	100,000,000	98,019,352	6,583,584	194,361,027	49.7%	12/31/2020
Ithaca L.P.	Permira Europe B.V.	2015	180,000,000	180,000,000	23,341,597	418,237,977	17.9%	12/31/2020
J.H. Whitney VI, L.P.	J.H. Whitney VI Management Co., LLC	2005	75,000,000	74,236,877	67,135,568	19,286,989	2.4%	12/31/2020
Kelso Investment Associates VII, L.P.	Kelso & Company	2004	75,000,000	75,914,258	121,909,893	116,117	11.3%	12/31/2020
Kelso Investment Associates VIII, L.P.	Kelso & Company	2007	225,000,000	293,259,082	348,598,587	45,332,606	6.2%	12/31/2020
KKR 2006 Fund L.P.	Kohlberg Kravis Roberts & Co. L.P.	2006	300,000,000	312,459,370	496,513,702	76,415,926	9.2%	12/31/2020
KKR AMG Co-Invest L.P.	Kohlberg Kravis Roberts & Co. L.P.	2015	82,716,389	79,865,939	26,999,534	174,947,150	21.5%	12/31/2020
KKR Brazil Aggregator L.P.	Kohlberg Kravis Roberts & Co. L.P.	2014	65,000,000	65,184,552	3,380,000	0	-46.5%	12/31/2019
KKR Heford Co-Invest L.P.	Kohlberg Kravis Roberts & Co. L.P.	2010	23,349,282	23,549,282	60,742,144	0	141.0%	9/30/2013
KKR Omega Co-Invest L.P.	Kohlberg Kravis Roberts & Co. L.P.	2018	29,159,434	28,956,306		65,267,570	38.1%	12/31/2020
Kohlberg Investors IX-B, L.P.	Kohlberg & Company, L.L.C.	2020	200,000,000	20,016,937		20,335,514	1.6%	12/31/2020
Kohlberg Investors VIII-B, L.P	Kohlberg & Company, L.L.C.	2017	200,000,000	172,656,866	14,857,876	193,601,140	10.9%	12/31/2020
Kohlberg Star Trinity, L.P.	Kohlberg & Company, L.L.C.	2017	300,000,000	181,435,878		189,961,635	3.4%	12/31/2020
Kohlberg TE Investors VI, L.P.	Kohlberg & Company, L.L.C.	2007	150,000,000	129,017,985	225,401,444	1,999,854	16.0%	12/31/2020
Kohlberg TE Investors VII-B, L.P.	Kohlberg & Company, L.L.C.	2012	200,000,000	210,709,904	256,501,106	99,595,167	16.7%	12/31/2020
Lee Equity Partners Fund, L.P.	Lee Equity Partners, LLC	2008	300,000,000	354,402,413	445,754,086	0	7.1%	12/31/2018
Lightspeed SPV I-B, LLC	LS SPV Management, LLC	2018	35,000,000	35,150,000		43,561,105	11.0%	12/31/2020
Lightspeed Venture Partners Select II, L.P.	Lightspeed Management Company, LLC	2016	125,000,000	117,500,000	43,476,963	206,265,025	26.7%	12/31/2020
Lightspeed Venture Partners Select III, L.P.	Lightspeed Management Company, LLC	2018	100,000,000	90,516,340		114,563,041	14.7%	12/31/2020
Lightspeed Venture Partners Select IV, L.P.	Lightspeed Management Company, LLC	2020	75,000,000	16,500,000		16,649,778	1.7%	12/31/2020
Lightspeed Venture Partners Select, L.P.	Lightspeed Management Company, LLC	2014	100,000,000	98,348,952	92,459,155	135,996,557	21.3%	12/31/2020
Lindsay Goldberg III L.P.	Goldberg Lindsay & Co. LLC	2008	250,000,000	242,106,099	326,813,142	1,805,492	8.1%	12/31/2020
Lindsay Goldberg IV L.P.	Goldberg Lindsay & Co. LLC	2015	250,000,000	196,949,866	169,136,091	188,286,562	32.5%	12/31/2020
Lion Capital Fund I, L.P.	Lion Capital LLP	2005	93,657,846	74,628,656	158,848,616	0	27.4%	8/31/2020
Lion Capital Fund II, L.P.	Lion Capital LLP	2007	277,076,815	269,790,618	168,574,475	414,189	-7.2%	12/31/2020
Lion Capital Fund III (USD), L.P.	Lion Capital LLP	2010	300,000,000	365,551,975	167,537,189	108,325,500	-6.5%	12/31/2020
Madison Dearborn Capital Partners IV, L.P.	Madison Dearborn Partners IV, L.P	2001	100,000,000	100,935,828	189,173,912	2,650,685	14.1%	12/31/2020
Marvel Co-Invest, L.P.	CCMP Capital Advisors, LLC	2017	75,000,000	75,225,000		233,959,770	35.9%	12/31/2020
MBF Co-Invest L.P.	Kohlberg Kravis Roberts & Co. L.P.	2010	32,995,189	32,995,189	61,220,303	0	13.0%	6/30/2018
Mezzanine Partners II, L.P.	HPS Mezzanine Partners II, LLC	2012	167,500,000	171,872,202	199,949,630	55,794,267	13.9%	12/31/2020
Mezzanine Partners, L.P.	HPS Mezzanine Partners, LLC	2008	82,500,000	77,031,990	85,577,624	7,860,363	7.7%	12/31/2020
Morgan Creek Partners Asia, LP	Morgan Creek Capital Management, LLC	2009	100,000,000	97,876,297	86,214,660	85,006,525	9.3%	9/30/2020
Nautic Partners V, L.P.	Nautic Partners, LLC	2001	75,000,000	72,303,515	147,961,212	3,256,877	17.0%	12/31/2020
NEA 15 Opportunity Fund, L.P.	NEA Management Company, LLC	2015	100,000,000	98,750,000	74,297,223	145,479,531	31.9%	12/31/2020
Neoma Global Growth Markets Strategic Fund (B) L.P.	Actis LLP	2015	50,000,000	40,513,994	7,892,893	15,173,500	-14.4%	6/30/2020
New Enterprise Associates 13, L.P	NEA Management Company, LLC	2009	150,000,000	150,000,000	288,317,561	108,634,559	17.4%	12/31/2020
New Enterprise Associates 14, L.P	NEA Management Company, LLC	2012	175,000,000	168,883,391	176,468,087	247,757,831	18.0%	12/31/2020
New Enterprise Associates 15, L.P	NEA Management Company, LLC	2015	150,000,000	141,750,000	34,602,247	282,726,987	23.2%	12/31/2020
New Enterprise Associates 16, L.P.	NEA Management Company, LLC	2017	200,000,000	158,500,000	6,065,965	221,659,325	20.6%	12/31/2020
New Enterprise Associates 17, L.P.	NEA Management Company, LLC	2019	100,000,000	35,000,000		41,854,975	26.9%	12/31/2020
Nordic Capital V, L.P.	Nordic Capital V Limited	2003	46,278,196	47,264,388	139,285,219	265,877	20.8%	12/31/2020
Oak Investment Partners X, Limited Partnership	Oak Management Corporation	2001	90,000,000	90,000,000	112,536,097	984,690	3.5%	12/31/2020
Oak Investment Partners XI, Limited Partnership	Oak Management Corporation	2004	75,000,000	74,977,207	60,143,840	6,491,568	-1.4%	12/31/2020
Oak Investment Partners XII, Limited Partnership	Oak Management Corporation	2006	110,000,000	109,881,568	96,043,045	11,793,623	-0.3%	12/31/2020
Oaktree Avalon Co-Investment Fund II, L.P.	Oaktree Capital Management, L.P.	2021	100,000,000	0		0
Oaktree European Principal Fund III (U.S.), L.P.	Oaktree Capital Management, L.P.	2011	200,000,000	171,500,000	141,375,337	139,338,251	9.4%	12/31/2020
Oaktree Opportunities Fund IX, L.P.	Oaktree Capital Management, L.P.	2013	150,000,000	150,000,000	76,026,254	102,020,463	3.2%	12/31/2020
Oaktree Opportunities Fund VIII, L.P.	Oaktree Capital Management, L.P.	2010	100,000,000	100,000,000	142,001,808	2,889,158	9.0%	12/31/2020
Oaktree Opportunities Fund VIIIb, L.P.	Oaktree Capital Management, L.P.	2011	100,000,000	100,000,000	103,858,259	29,976,656	5.6%	12/31/2020
Oaktree Opportunities Fund X, L.P.	Oaktree Capital Management, L.P.	2015	100,000,000	93,000,000	27,939,319	89,630,659	8.3%	12/31/2020
Oaktree Opportunities Fund Xb, L.P.	Oaktree Capital Management, L.P.	2018	200,000,000	110,000,000		124,052,637	11.5%	12/31/2020
Oaktree Special Situations Fund II, L.P.	Oaktree Capital Management, L.P.	2018	200,000,000	53,486,227	10,023,853	66,022,455	102.3%	12/31/2020
Oaktree Special Situations Fund, L.P.	Oaktree Capital Management, L.P.	2015	200,000,000	184,824,776	27,034,273	210,349,053	9.8%	12/31/2020
Oaktree Star Investment Fund II, L.P.	Oaktree Capital Management, L.P.	2018	100,000,000	44,691,696	13,005,703	39,912,422	44.0%	12/31/2020
OCM Avalon Co-Investment Fund, L.P.	Oaktree Capital Management, L.P.	2015	200,000,000	61,222,045	5,311,756	57,303,003	0.6%	12/31/2020
OCM Opportunities Fund VI, L.P.	Oaktree Capital Management, L.P.	2005	25,000,000	25,040,274	39,481,877	5,256	8.8%	12/31/2020
OCM Opportunities Fund VII, L.P.	Oaktree Capital Management, L.P.	2007	50,000,000	50,000,000	68,508,619	397,376	7.3%	12/31/2020
OCM Opportunities Fund VIIb, L.P.	Oaktree Capital Management, L.P.	2008	100,000,000	90,000,000	155,656,733	190,655	16.5%	12/31/2020
OMNIA Coinvest LP	Leonard Green & Partners, L.P.	2020	25,000,000	20,042,448		19,999,075	-0.2%	12/31/2020
Onex Partners II LP	Onex Partners Manager LP	2006	150,000,000	133,189,879	241,289,833	4,443,454	12.9%	12/31/2020
Onex Partners III LP	Onex Partners Manager LP	2008	250,000,000	274,948,168	364,490,191	75,454,601	11.2%	12/31/2020
Onex Partners LP	Onex Partners Manager LP	2003	100,000,000	95,087,378	291,984,668	358,748	37.8%	12/31/2020
Orchid Asia VII, L.P.	Orchid Asia V Group Management, Limited	2018	100,000,000	60,974,904	6,076,425	81,059,949	36.2%	12/31/2020
PAI Europe VII-A S.L.P.	PAI Partners S.a.r.l.	2018	148,759,477	63,665,098		70,826,887	21.2%	12/31/2020
PAI Liberty VII SCSp	PAI Partners S.a.r.l.	2019	59,403,141	22,294,117		4,010,626	-75.4%	12/31/2020
Patria – Brazilian Private Equity Fund V (Ontario) SF-A, L.P	Pátria – Brazilian Private Equity General Partner V, Ltd.	2019	20,000,000	20,070,597		17,032,412	-12.5%	12/31/2020
Patria – Brazilian Private Equity Fund V (Ontario) SF-B, L.P	Pátria – Brazilian Private Equity General Partner V, Ltd.	2019	20,000,000	20,070,597		17,032,408	-12.5%	12/31/2020
Patria – Brazilian Private Equity Fund V (Ontario) SF-D, L.P	Pátria – Brazilian Private Equity General Partner V, Ltd.	2020	1,879,140	1,879,140		1,538,071	-21.8%	12/31/2020
Patria – Private Equity Fund VI, L.P.	Patria – Private Equity General Partner VI, Ltd.	2018	150,000,000	32,360,862		37,520,032	25.2%	12/31/2020
Patria-Brazilian Private Equity Fund IV, L.P	Patria-Brazilian Private Equity General Partner IV, Ltd.	2011	100,000,000	94,449,923	9,298,824	106,300,823	4.0%	12/31/2020
PBPE Fund V (Ontario), L.P.	PBPE General Partner V, Ltd.	2015	150,000,000	123,431,938		232,734,386	36.0%	12/31/2020
Peak Rock Capital Fund III LP	Peak Rock Capital LLC	2021	80,000,000	0		0
PecosCo Limited Partnership	Certares Management, Ltd.	2014	87,499,500	76,399,071	2,538,117	130,232,200	9.0%	9/30/2020
Permira Europe III	Permira Europe B.V.	2004	76,240,475	76,961,470	131,035,147	202,961	25.7%	12/31/2020
Permira Growth Opportunities I L.P.1	Permira Investment Advisers Limited	2018	100,000,000	33,250,000	11,836	41,628,716	22.6%	12/31/2020
Permira IV	Permira Europe B.V.	2006	203,632,882	208,335,833	314,847,778	32,916,647	9.0%	12/31/2020
Permira Star Opportunities SCSp	Permira Investment Advisers Limited	2018	300,000,000	170,197,187		222,381,520	21.5%	12/31/2020
Permira V	Permira Europe B.V.	2014	239,092,145	253,322,117	330,166,475	387,406,642	26.1%	12/31/2020
Permira VI	Permira Investment Advisers Limited	2017	441,652,548	387,018,191	89,793,390	668,478,543	33.7%	12/31/2020
Permira VII L.P.1	Permira Investment Advisers Limited	2019	406,092,860	134,406,564		154,594,144	28.0%	12/31/2020
Platinum Equity Capital Partners II, L.P.	Platinum Equity Advisors, LLC	2007	100,000,000	85,839,315	137,075,003	8,237,501	12.4%	12/31/2020
Polaris Venture Partners IV, L.P.	Polaris Venture Management Company IV, L.L.C	2002	50,000,000	49,750,000	56,944,218	3,085,437	2.3%	12/31/2020
Project Champ*	N/A	2014	227,587,972	221,652,813	26,617,895	270,112,505	6.8%	12/31/2020
Project Fast*	N/A	2012	125,000,000	125,000,000	145,245,742	0	4.5%	9/30/2017
Project Magni*	N/A	2015	100,000,000	101,455,000	120,000,000	70,252,000	14.6%	12/31/2020
Project Ski*	N/A	2017	72,000,000	72,000,533	98,655,612	7,505,775	27.5%	12/31/2020
Providence Equity Partners V L.P.	Providence Equity Partners L.L.C.	2005	75,000,000	69,549,492	84,635,984	1,173,452	3.1%	12/31/2020
Providence Equity Partners VI L.P.	Providence Equity Partners L.L.C.	2007	300,000,000	308,004,086	341,031,791	98,779,750	5.7%	12/31/2020
Quad-C Partners VI, L.P.	Quad-C VI Managment Corp.	2001	51,347,124	50,848,956	114,984,749	0	24.7%	12/31/2017
Quad-C Partners VII Co-Investment, L.P.	Quad-C VII Managment LP	2007	31,592,900	30,504,255	42,663,413	0	8.0%	12/31/2019
Quad-C Partners VII, L.P.	Quad-C VII Management LP	2006	75,000,000	70,911,533	116,202,261	85,552	10.8%	12/31/2020
Quartz Co-Invest, L.P.	CCMP Capital Advisors, LLC	2014	100,000,000	101,401,000	16,851,920	133,474,774	6.8%	12/31/2020
Red River Direct Investment Fund II, L.P.	BlackRock Investment Management, LLC	2013	400,000,000	354,349,945	356,360,876	240,673,610	15.8%	12/31/2020
Red River Direct Investment Fund III, L.P.	BlackRock Investment Management, LLC	2015	792,000,000	778,912,078	204,918,451	1,084,286,027	19.7%	12/31/2020
Red River Direct Investment Fund, L.P.	BlackRock Investment Management, LLC	2009	250,000,000	248,679,716	434,474,702	22,601,694	16.7%	12/31/2020
Red River Venture Capital Fund II L.P.	J.P. Morgan Investment Management Inc.	2016	250,000,000	162,252,109	9,063,226	174,019,309	5.8%	12/31/2020
Red River Venture Capital Fund L.P.	J.P. Morgan Investment Management Inc.	2009	150,000,000	240,099,326	247,549,003	359,439,745	23.5%	12/31/2020
Roark Capital Partners IV LP	ROARK CAPITAL MANAGEMENT, LLC	2016	100,000,000	86,678,780	6,008,505	96,060,707	4.7%	12/31/2020
Seventh Cinven Fund (No.1)	Cinven Capital Management (VII) Limited Partnership Inc	2019	271,911,161	32,016,112	5,175,691	30,323,731	13.0%	12/31/2020
Shingle Coinvest LP	Leonard Green & Partners, L.P.	2018	61,000,000	61,130,467		126,842,977	32.6%	12/31/2020
Silver Lake Partners IV, L.P.	Silver Lake Management Company IV, L.L.C	2013	150,000,000	167,970,456	142,149,878	259,154,109	27.9%	12/31/2020
Silver Lake Partners V, L.P.	Silver Lake Management Company V, L.L.C.	2018	300,000,000	275,632,609	34,189,070	378,159,486	33.7%	12/31/2020
Silver Lake Partners VI, L.P.	Silver Lake Management Company V, L.L.C.	2020	200,000,000	0		-519,959		12/31/2020
SLP Aurora Co-Invest, L.P.	Silver Lake Technology Associates III, L.P.	2016	53,830,645	53,937,788	11,822,958	74,030,795	10.1%	12/31/2020
SLP Blue Co-Invest, L.P.	Silver Lake Management Company V, L.L.C.	2018	30,000,000	30,052,174		36,308,118	7.7%	12/31/2020
SLP Mistral Co-Invest, L.P.	Silver Lake Group, L.L.C.	2020	20,000,000	20,000,000		20,651,701	3.3%	12/31/2020
SLP Zephyr Investors, L.P.	Silver Lake Management Company V, L.L.C.	2018	30,272,312	30,335,466		34,701,688	5.6%	12/31/2020
STAR RC IV LP	ROARK CAPITAL MANAGEMENT, LLC	2016	100,000,000	50,004,310	3,482,549	66,210,000	9.6%	12/31/2020
Star Trinity, L.P.	Insight Venture Management, LLC	2015	325,000,000	165,001,533	141,560,779	274,448,348	32.4%	12/31/2020
TA X L.P.	TA Associates Management, L.P.	2006	30,000,000	28,950,000	38,141,784	0	5.2%	12/31/2020
TA XI L.P.	TA Associates Management, L.P.	2010	150,000,000	147,750,000	346,543,843	164,215,502	26.7%	12/31/2020
TA XII-A L.P.	TA Associates Management, L.P.	2016	150,000,000	150,752,370	117,423,247	215,580,242	38.5%	12/31/2020
TA XIII-A, L.P.	TA Associates Management, L.P.	2019	150,000,000	82,500,000		89,497,787	20.0%	12/31/2020
Texas Emerging Managers Legacy Private Markets Program (PE Series)	GCM Grosvenor Capital Management	2012	404,484,547	377,328,002	312,352,215	223,484,621	19.0%	12/31/2020
Texas Emerging Managers Private Markets Program (2016-1 PE Investment Series)	GCM Grosvenor Capital Management	2016	150,207,701	130,752,020	27,044,801	150,830,633	13.0%	12/31/2020
Texas Emerging Managers Private Markets Program (2017-1 PE Investment Series)	GCM Grosvenor Capital Management	2017	251,160,000	188,030,783	42,247,199	187,807,878	13.4%	12/31/2020
Texas Emerging Managers Private Markets Program (2018-1 PE Investment Series)	GCM Grosvenor Capital Management	2018	204,600,000	113,429,251	16,516,950	94,081,417	-1.7%	12/31/2020
Texas Emerging Managers Private Markets Program (2019-1 PE Investment Series)	GCM Grosvenor Capital Management	2019	230,000,000	47,882,191	260,629	53,680,686	17.2%	12/31/2020
Texas Emerging Managers Private Markets Program (2020-1 PE Investment Series)	GCM Grosvenor Capital Management	2020	130,000,000	568,125		-625,746	0.0%	12/31/2020
Texas Growth Fund -1991 Trust	N/A	1992	37,787,582	37,787,582	93,079,827	0	21.2%	12/31/2008
Texas Growth Fund -1995 Trust	N/A	1996	38,031,455	38,031,802	23,661,310	0	-10.6%	6/30/2009
Texas Growth Fund -1998 Trust	N/A	1999	303,295,836	303,295,836	446,365,401	0	9.7%	6/30/2012
The Baring Asia Private Equity Fund VI, L.P.1	Baring Private Equity Asia Group Limited	2015	150,000,000	165,850,481	47,132,512	208,203,899	15.8%	12/31/2020
The Baring Asia Private Equity Fund VII, L.P.	Baring Private Equity Asia Group Limited	2019	200,000,000	113,681,542	11,215,246	160,561,153	59.6%	12/31/2020
The Resolute Fund, L.P.	The Jordan Company, LLC	2002	100,000,000	99,372,621	184,644,599	0	14.6%	10/31/2011
THE SIXTH CINVEN FUND	CINVEN PARTNERS LLP	2017	196,564,891	188,488,154	27,639,115	307,971,450	34.4%	12/31/2020
Thomas H. Lee Equity Partners V, L.P.	THL Managers V, LLC	2001	100,000,000	102,797,457	173,667,020	0	13.7%	10/31/2019
Timberlake L.P.	Triton Investment Advisers LLP	2021	122,354,991	0		0
TPG Asia VII (A), L.P.	TPG Asia VII Management LLC	2018	150,000,000	92,049,898	7,867,704	95,662,949	8.3%	12/31/2020
TPG Growth II, L.P.	TPG Growth II Management, LLC	2011	200,000,000	209,038,697	381,693,553	8,912,419	15.1%	12/31/2020
TPG Growth III (A), L.P.	TPG Growth III Management, LLC	2016	250,000,000	248,213,527	163,787,058	278,505,615	25.2%	12/31/2020
TPG Growth IV, L.P.	TPG Growth IV Management, LLC	2017	250,000,000	192,229,188	5,720,563	214,632,456	9.9%	12/31/2020
TPG Growth Spectre Co-Invest, L.P.	TPG Growth III Management, LLC	2016	75,000,000	73,526,315	162,633,820	0	35.2%	12/31/2020
TPG Healthcare Partners, L.P.	TPG Healthcare Management, LLC	2019	80,000,000	21,614,900	3,614,084	23,000,807	55.8%	12/31/2020
TPG Kentucky Co-Invest, L.P.	TPG Global, LLC	2018	150,000,000	123,898,500		233,508,728	28.8%	12/31/2020
TPG Lonestar I, L.P.	TPG DASA Management, LLC	2018	200,000,000	196,903,122	15,375,810	184,193,114	0.8%	12/31/2020
TPG Opportunities Partners III (A), L.P.	TPG Opportunities III Management, LLC	2014	100,000,000	56,748,752	39,597,050	38,324,848	8.4%	12/31/2020
TPG Partners IV, L.P.	TPG Capital Management, L.P.	2003	125,000,000	126,916,060	252,575,123	1,481,631	15.3%	12/31/2020
TPG Partners V, L.P.	TPG Capital Management, L.P.	2006	300,000,000	261,561,344	372,862,716	3,143,481	4.8%	12/31/2020
TPG Partners VI, L.P.	TPG VI Management, LLC	2008	210,000,000	333,173,329	437,014,131	34,002,749	9.3%	12/31/2020
TPG Partners VII, L.P.	TPG VII Management, LLC	2016	300,000,000	288,870,094	156,358,214	289,566,272	17.6%	12/31/2020
TPG Partners VIII, L.P.	TPG VIII Management, LLC	2019	320,000,000	44,213,157	3,623,586	42,907,431	7.8%	12/31/2020
TPG STAR, L.P.	TPG Capital Advisors, LLC	2007	125,000,000	124,816,372	146,980,060	18,095,758	6.5%	12/31/2020
TPG Tech Adjacencies, L.P.	TPG Tech Adjacencies Management, LLC	2019	75,000,000	35,057,973	162,390	52,402,865	59.7%	12/31/2020
Triton Fund II L.P.	Triton Investment Management Limited	2006	40,682,953	43,465,181	88,466,289	2,834,219	18.5%	12/31/2020
Triton Fund III L.P.	Triton Investment Management Limited	2009	199,453,731	194,230,015	233,224,233	82,673,115	10.0%	12/31/2020
Triton Fund IV L.P.	Triton Investment Management Limited	2013	135,591,736	116,923,129	76,200,273	77,257,248	8.2%	12/31/2020
Triton Fund V L.P.	Triton Investment Management Limited	2019	148,916,741	48,478,086	307,814	47,668,576	-1.5%	12/31/2020
Vintage I LP	Goldman Sachs Asset Management, L.P.	1998	23,750,000	23,121,707	29,605,383	0	7.8%	12/31/2016
Vista Equity Partners Fund VI, L.P.	VEPF Management, L.P.	2016	200,000,000	223,989,475	122,145,264	276,604,048	21.5%	12/31/2020
Vista Equity Partners Fund VII, L.P.	VEPF Management, L.P.	2019	200,000,000	97,987,637	466,223	102,426,487	5.4%	12/31/2020
Vista Foundation Fund III, L.P.	VEPF Management, L.P.	2016	100,000,000	94,546,435	26,646,010	143,061,935	27.8%	12/31/2020
Warburg Pincus Private Equity X, L.P.	Warburg Pincus LLC	2007	250,000,000	250,000,000	415,839,804	28,605,592	9.5%	12/31/2020
Wayzata Opportunities Fund II, L.P.	Wayzata Investment Partners LLC	2007	200,000,000	233,000,000	436,304,659	5,458,303	16.5%	12/31/2020
Wayzata Opportunities Fund III, L.P.	Wayzata Investment Partners LLC	2013	150,000,000	73,590,000	44,243,770	22,650,494	-2.8%	12/31/2020
White Cypress Co-Investment Partners, L.P.	Clearlake Capital Group, L.P.	2019	13,300,000	10,019,349		12,413,992	14.4%	12/31/2020
Whitney V. L.P.	Whitney 2011 Management Company, L.L.C.	2001	75,000,000	74,196,526	155,909,321	0	23.9%	9/30/2018
Willis Stein & Partners III Sub, L.P.	Willis Stein & Partners	2001	100,000,000	105,460,337	102,319,183	0	-0.5%	12/31/2015
WP Expedition Co-Invest	Warburg Pincus LLC	2012	50,000,000	50,612,449	69,862,193	65,906,011	28.7%	12/31/2020
* Name Confidential by Law

Real Estate

Teacher Retirement System of Texas - Real Estate Investments
As of 12/31/2020 Quarterly General Partner Reporting
Legal Investment Name	Investment Manager	Vintage Year	Commitment	Contributions	Distributions	Net Asset Value	Since Inception IRR	Last NAV Date
Abacus Multi-Family Partners V LP	Abacus Capital Group LLC	2020	50,000,000	943,396		-124,433	0.0%	12/31/2020
AEW Core Property Trust (U.S.), Inc.	AEW Capital Management, LP	2009	275,000,000	275,000,000	148,616,486	428,994,381	9.5%	12/31/2020
AEW Global Investment Fund T, L.P.	AEW Capital Management, LP	2019	500,000,000	81,194,581	30,472,059	52,013,328	4.0%	12/31/2020
AEW Senior Housing Investors II, L.P.	AEW Capital Management, LP	2012	100,000,000	128,377,682	133,751,388	71,491,543	14.1%	12/31/2020
AEW Senior Housing Investors III, L.P.	AEW Capital Management, LP	2016	150,000,000	161,156,529	45,421,892	128,071,560	3.3%	12/31/2020
AEW Senior Housing Investors, L.P.	AEW Capital Management, LP	2009	125,000,000	117,262,838	237,937,879	0	19.5%	12/31/2020
AEW Value Investors Asia II, L.P.	AEW Asia Limited	2016	100,000,000	98,935,406	114,783,913	12,520,085	13.1%	12/31/2020
AEW Value Investors Asia III, L.P.	AEW Asia Limited	2017	100,000,000	107,796,706	22,550,390	101,072,282	8.1%	12/31/2020
AEW VIA II Coinvest, L.P.	AEW Asia Limited	2016	50,000,000	49,585,000	70,362,498	4,533,419	26.0%	12/31/2020
AEW VIA III COINVEST T, L.P.	AEW Asia Limited	2018	225,000,000	183,291,464		235,500,142	17.3%	12/31/2020
Akard Street Holdings, L.P.	Banner Oak Capital Partners, LP	2016	928,850,720	1,229,176,146	1,595,981,497	146,542,392	20.6%	12/31/2020
Alamo L.P.	Kohlberg Kravis Roberts & Co. L.P.	2018	100,000,000	21,118,760		32,310,468	25.5%	12/31/2020
Almanac Realty Securities V, LP	NB Alternatives Advisers, LLC	2008	150,000,000	155,398,617	234,555,655	297,066	11.7%	12/31/2020
Almanac Realty Securities VI, L.P.	NB Alternatives Advisers, LLC	2012	100,000,000	65,872,661	72,395,129	11,916,057	9.1%	12/31/2020
Almanac Realty Securities VII, L.P.	NB Alternatives Advisers, LLC	2015	100,000,000	90,260,220	71,582,150	49,441,430	12.9%	12/31/2020
Almanac Realty Securities VIII, L.P.	NB Alternatives Advisers, LLC	2018	150,000,000	33,109,231	2,031,734	32,248,903	4.1%	12/31/2020
Apollo Alamo RA, L.P.	Apollo Alamo GP, LLC	2021	100,000,000	0		0
ARA Asia Dragon II Limited	ARA Managers (Asia Dragon II) Pte. Ltd.	2012	200,000,000	163,451,398	236,232,501	2,091	7.6%	12/31/2020
ARA Asia Dragon Limited	ARA Managers (APF) Pte. Ltd.	2008	150,000,000	139,319,305	178,913,989	0	7.0%	3/31/2018
ARS VI (Sidecar I), L.P.	NB Alternatives Advisers, LLC	2012	100,000,000	53,874,818	56,942,435	13,173,621	10.9%	12/31/2020
ARS VII (Sidecar I), L.P.	NB Alternatives Advisers, LLC	2015	100,000,000	62,093,192	62,019,682	28,792,505	19.2%	12/31/2020
ARS VIII (SC I), L.P.	NB Alternatives Advisers, LLC	2018	150,000,000	25,813,355	1,418,209	31,464,710	23.7%	12/31/2020
Banner Oak BOV, LP	Banner Oak Capital Partners, LP	2019	147,015,000	104,914,762	99,194,691	125,678,954	120.0%	12/31/2020
Banner Oak Core Venture, LP	Banner Oak Capital Partners, LP	2017	299,700,000	191,592,152	23,278,304	185,801,171	4.3%	12/31/2020
Banner Oak Enhanced Core Venture, LP	Banner Oak Capital Partners, LP	2018	1,498,500,000	794,979,958	86,065,435	898,143,340	18.0%	12/31/2020
Banner Oak Industrial Acquisitions Venture, LP	Banner Oak Capital Partners, LP	2019	99,900,000	99,900		23,391	-76.6%	12/31/2020
Banner Oak Industrial Development Venture II, LP	Banner Oak Capital Partners, LP	2019	379,620,000	151,574,560	90,377,949	98,622,869	33.2%	12/31/2020
Banner Oak Industrial Development Venture, LP	Banner Oak Capital Partners, LP	2017	399,600,000	548,526,580	734,455,210	43,098,800	29.5%	12/31/2020
Banner Oak Investment Fund, LP	Banner Oak Capital Partners, LP	2018	499,500,000	142,797,777	69,537,731	98,160,840	11.7%	12/31/2020
Banner Oak Multifamily Enhanced Core Venture, LP	Banner Oak Capital Partners, LP	2019	199,800,000	34,970,064		33,913,320	-1.9%	12/31/2020
Banner Oak Multifamily Venture II, LP	Banner Oak Capital Partners, LP	2019	199,800,000	41,778,933	6,105,899	35,346,030	-1.3%	12/31/2020
Banner Oak Multifamily Venture, LP	Banner Oak Capital Partners, LP	2017	199,800,000	218,415,961	66,856,495	197,854,573	10.8%	12/31/2020
Banner Oak Operating Company Fund, LP	Banner Oak Capital Partners, LP	2018	299,700,000	24,031,997	1,260,907	15,582,621	-32.3%	12/31/2020
BlackRock Retail Opportunity Fund, LLC	BlackRock Realty Advisors, Inc.	2007	72,000,000	60,198,472	22,018,687	0	-17.4%	12/31/2014
Blackstone Edison Managed Partners L.P.	Blackstone Real Estate Advisors L.P.	2016	165,000,000	144,975,918	413,427,731	7,700,735	33.6%	12/31/2020
Blackstone GGP Principal Transaction Partners L.P.	Blackstone Real Estate Advisors L.P.	2010	27,500,000	8,321,324	37,732,176	0	55.5%	12/31/2014
Blackstone Real Estate Partners Europe III L.P.	Blackstone Real Estate Advisors Europe L.P.	2008	261,610,667	254,709,400	365,651,984	29,635,526	11.6%	12/31/2020
Blackstone Real Estate Partners Europe IV L.P.	Blackstone Real Estate Advisors Europe L.P.	2013	350,000,000	334,778,417	390,258,953	116,708,217	13.6%	12/31/2020
Blackstone Real Estate Partners Europe V L.P.	Blackstone Real Estate Advisors L.P.	2017	300,000,000	257,972,293	29,343,720	310,477,927	12.8%	12/31/2020
Blackstone Real Estate Partners IX L.P.	Blackstone Real Estate Advisors L.P.	2019	300,000,000	103,846,766	14,257,501	107,308,788	21.6%	12/31/2020
Blackstone Real Estate Partners V.TE.2 L.P.	Blackstone Real Estate Advisors V L.P.	2006	146,146,501	152,941,366	304,919,049	5,134,423	10.4%	12/31/2020
Blackstone Real Estate Partners VI.F L.P.	Blackstone Real Estate Advisors L.P.	2013	45,596,469	44,584,489	90,088,234	1,913,448	39.0%	12/31/2020
Blackstone Real Estate Partners VI.TE.2 L.P.	Blackstone Real Estate Advisors L.P.	2007	300,000,000	316,032,026	642,679,846	12,541,508	13.3%	12/31/2020
Blackstone Real Estate Partners VII.TE.1 L.P.	Blackstone Real Estate Advisors L.P.	2011	300,000,000	360,215,751	467,540,160	117,690,584	15.1%	12/31/2020
Blackstone Real Estate Partners VIII L.P.	Blackstone Real Estate Advisors L.P.	2015	300,000,000	325,476,896	222,291,085	233,379,786	14.1%	12/31/2020
BREP Europe VI (Cayman) L.P.	Blackstone Real Estate Associates Europe VI L.P.	2019	300,000,000	72,144,116	1,903,524	77,661,290	18.1%	12/31/2020
BREP Texas Trinity Fund L.P.	Blackstone Real Estate Advisors L.P.	2021	100,000,000	0		0
Brockton Capital Fund II L.P.	Brockton Capital LLP	2010	190,000,373	216,252,892	233,430,615	23,154,208	5.0%	12/31/2020
Brockton Capital Fund III LP	Brockton Capital LLP	2015	88,583,163	106,437,925	93,953,326	33,490,136	11.7%	12/31/2020
Brockton Capital Fund III Sidecar A LP	Brockton Capital LLP	2021	45,109,329	0		0
Brookfield Strategic Real Estate Partners B L.P.	Brookfield Asset Management Private Institutional Capital Adviser US, LLC	2012	200,000,000	232,174,874	350,693,040	104,380,000	19.2%	12/31/2020
Brookfield Strategic Real Estate Partners II-B L.P.	Brookfield Asset Management Private Institutional Capital Adviser US, LLC	2016	200,000,000	193,450,587	62,701,765	198,255,000	10.7%	12/31/2020
Brookfield Strategic Real Estate Partners III–B L.P.	Brookfield Asset Management Private Institutional Capital Adviser US, LLC	2019	300,000,000	154,060,979	2,259,333	166,107,781	8.4%	12/31/2020
BSREP CARS Co-Invest Pooling L.P.	Brookfield Asset Management Private Institutional Capital Adviser US, LLC	2014	200,000,000	200,000,000	131,426,714	201,018,000	11.1%	12/31/2020
BSREP III Antlia Co-Invest L.P.	Brookfield Asset Management Private Institutional Capital Adviser US, LLC	2018	300,000,000	301,244,517	34,285,714	371,616,706	16.6%	12/31/2020
Camden Multifamily Co-Investment Fund, L.P	Camden Multifamily Value Add Fund Advisor, LLC	2011	108,598,600	135,212,850	116,451,000	340,990,302	19.3%	12/31/2020
Camden Multifamily Core Fund, L.P.	Camden Multifamily Value Add Fund Advisor, LLC	2021	108,726,713	0		0
Camden Multifamily Value Add Fund, L.P.	Camden Multifamily Value Add Fund Advisor, LLC	2008	92,979,687	138,179,687	138,493,100	277,848,771	15.4%	12/31/2020
Canyon-Johnson Urban Fund III, L.P.	Canyon-Johnson Realty Management Company LLC	2010	100,000,000	99,921,712	137,811,844	7,719	13.3%	12/31/2020
Capri Urban Investors, LLC	Capri Capital Partners, LLC	2007	75,000,000	75,003,326	34,429,012	14,569,677	-5.6%	12/31/2020
Carlyle Europe Real Estate Partners III, L.P.	Carlyle Investment Management L.L.C.	2007	203,175,024	197,987,810	171,392,124	7,095,171	-1.9%	12/31/2020
Carlyle Realty Partners V, L.P.	Carlyle Investment Management L.L.C.	2007	150,000,000	103,252,056	167,007,728	27,101,488	9.1%	12/31/2020
Carlyle Realty Partners VII, L.P.	Carlyle Investment Management L.L.C.	2015	200,000,000	184,222,770	176,249,498	74,318,076	12.0%	12/31/2020
Carlyle Star Co-Investment Fund, L.P.	Carlyle Investment Management L.L.C.	2021	30,000,000	0		0
CB Richard Ellis Strategic Partners U.S. Opportunity 5, LP	CBRE Global Value Investors, LLC	2008	100,000,000	95,446,252	133,164,187	2,511,306	5.6%	12/31/2020
CB Richard Ellis Strategic Partners U.S. Value 5, L.P.	CBRE Global Value Investors, LLC	2008	100,000,000	100,000,000	141,563,363	0	16.2%	12/31/2016
CBRE Europe Value Partners 2 SCSp SICAV-RAIF	CBRE Global Investors Luxembourg AIFM S.a.r.l	2017	105,382,486	128,227,716	70,344,203	74,006,926	10.4%	12/31/2020
CBRE French Logistics Venture SCSp SICAV-RAIF	CBRE Global Investors Luxembourg AIFM S.a.r.l	2019	12,619,158	9,687,181		12,442,698	32.6%	12/31/2020
CBRE GIP US Feeder Vehicle, LP	CBRE GLOBAL INVESTMENT PARTNERS LIMITED	2015	238,500,000	275,344,632	193,594,732	161,754,560	11.2%
CBRE Spanish Logistics Feeder SCSp	CBRE Global Investors Luxembourg AIFM S.a.r.l	2017	68,912,594	68,912,594		103,040,211	19.3%	12/31/2020
CBRE Strategic Partners 9 Tiger, LP	CBRE Global Value Investors, LLC	2021	100,000,000	0		0
CBRE Strategic Partners U.S. Value 6, LP	CBRE Global Value Investors, LLC	2012	150,000,000	152,351,552	208,549,744	0	12.1%	12/31/2020
CBRE Strategic Partners U.S. Value 7, LP	CBRE Global Value Investors, LLC	2014	200,000,000	200,148,820	263,993,827	4,203,302	10.5%	12/31/2020
CBRE Strategic Partners U.S. Value 8, LP	CBRE Global Value Investors, LLC	2017	200,000,000	182,612,553	45,029,144	185,494,086	9.4%	12/31/2020
CBRE Strategic Partners U.S. Value 9, LP	CBRE Global Value Investors, LLC	2019	200,000,000	54,643,607	214,811	51,859,243	-7.0%	12/31/2020
CBRE U.S. Development Partners 5, LP	CBRE Global Value Investors, LLC	2018	200,000,000	121,017,664	379,176	133,104,695	7.4%	12/31/2020
CBRE Wood Partners Development 4, LP	CBRE Global Value Investors, LLC	2015	200,000,000	132,025,622	60,687,820	118,127,299	8.2%	12/31/2020
CBRE Wood Partners Development Fund 3, LP	CBRE Global Value Investors, LLC	2012	102,000,000	93,753,933	150,739,480	318,293	17.2%	12/31/2020
CIM Fund III, L.P.	CIM Investment Advisors, LLC	2007	225,000,000	239,576,708	303,028,909	90,618,482	8.7%	12/31/2020
CIM Urban REIT, LLC	CIM Investment Advisors, LLC	2006	150,000,000	150,000,000	234,028,067	0	5.4%	12/31/2020
CMK Buyout Investor, LLC	CMK Buyout Manager, LLC	2006	100,000,000	96,438,198	48,657,962	5,841	-11.7%	12/31/2020
CMTG Investor, L.P.	NB Alternatives Advisers, LLC	2016	200,000,000	234,461,837	176,406,177	113,423,394	8.6%	12/31/2020
CMTG TT Participation Investor, LP	Claros REIT Management LP	2020	130,000,000	150,000		150,000	0.0%	12/31/2020
Co-Invest Platform (No. 1) SCSp	EQT Fund Management S.à r.l.	2019	182,417,475	20,518,257		24,372,674	15.5%	9/30/2020
Colony Distressed Credit Fund, L.P.	Colony Capital Investment Advisors, LLC	2008	275,000,000	264,135,832	401,884,761	5,727,132	13.1%	12/31/2020
Colony Investors VIII, L.P.	Colony Capital Investment Advisors, LLC	2007	330,000,000	318,672,214	136,130,286	5,674,900	-11.4%	12/31/2020
Commingled Pension Trust Fund (Strategic Property) of JPMorgan Chase Bank, N.A.	JPMorgan Chase Bank, N.A.	2010	400,000,000	410,855,204	917,540,459	0	11.6%	12/31/2018
Cousins Properties Office Fund II, L.P.	Cousins Properties LP	2008	297,980,430	288,782,351	460,843,991	0	11.7%	12/31/2016
CPI Capital Partners Europe L.P.	AGRE Europe Legacy Management, LLC	2006	103,677,671	97,125,612	55,072,336	2,097,221	-9.3%	12/31/2020
Diamond Liquidating LLC	BlackRock Diamond, Inc.	2006	200,000,000	199,875,778	76,126,366	0	-10.7%	12/31/2019
DivcoWest Fund V, LP	DivcoWest Real Estate Services, LLC	2016	200,000,000	145,740,226	31,248,821	125,956,942	3.3%	12/31/2020
DivcoWest Fund VI-A, LP	DivcoWest Fund VI Advisor, LLC	2020	200,000,000	8,966,395		7,702,512	-14.1%	12/31/2020
DW NP Holdings, LP	Divco West Real Estate Services, LLC	2015	345,600,000	306,195,438	516,787,435	65,721,799	25.8%	12/31/2020
Dyal Zeus Co-Investment Partners IX LP	NB Alternatives Advisers, LLC	2017	91,117,911	93,564,322	24,574,779	127,930,256	17.7%	12/31/2020
Dyal Zeus Offshore III LP	NB Alternatives Advisers, LLC	2017	8,382,089	9,633,179	3,289,891	12,485,160	19.3%	12/31/2020
EI AV Fund, L.P.	Equity International Management, LLC	2015	75,000,000	72,263,677	1,035,704	90,446,203	4.3%	12/31/2020
EI Fund V, L.P.	Equity International Management, LLC	2011	110,047,847	108,809,426	47,380,914	29,351,834	-6.8%	12/31/2020
EPISO 4 SCSp	Tristan Capital Partners LLP	2017	59,807,330	27,844,088	2,783,370	42,093,285	19.5%	12/31/2020
EQT Real Estate II (NO.2) SCSP	EQT Fund Management S.à r.l.	2019	120,445,573	17,559,406	3,203,703	17,955,896	19.1%	12/31/2020
ESCF Germany S.à r.l	CBRE ESCF MANAGEMENT B.V.	2013	86,511,873	77,639,990	55,913,663	24,630,060	0.8%	12/31/2020
European Property Investors Special Opportunities 3 LP	Tristan Capital Partners LLP	2013	119,363,197	121,100,749	101,544,679	50,397,712	7.3%	12/31/2020

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File details come from the government source that posted it. Updated Jun 26, 2025.