TRS approves $225.35m in commitments

The US public pension has backed two value-add real estate funds.

Institution: Teacher Retirement System of Texas
Headquarters: Austin, United States
AUM: $152.20bn
Allocation to alternatives: 31.10%
Bitesize: $200-500m

Teacher Retirement System of Texas has agreed to commit $200 million to CBRE Strategic Partners U.S. Value 9 and $25.35 million to PBC Allandale, a contact at the pension informed PERE.

The $152.20 billion Austin-based public pension has a 15.0 percent target allocation to real estate that currently stands at 12.0 percent.

As illustrated below, TRS has a penchant for value-add real estate, having committed to five of those vehicles with a 2019 vintage alone, which combined constitute $883.5 million.

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