Texas Permanent School Fund approves $300m in commitments

The US endowment has backed four diversified real estate funds.

Institution: Texas Permanent School Fund
Headquarters: Austin, United States
AUM: $32.73bn
Allocation to alternatives: 46.00%

Texas Permanent School Fund has agreed to commit $75 million to Blackstone Real Estate Partners IX, $75 million to PAG Special Situations Fund III, $75 million to KKR Asia Real Estate Partners and $75 million to Rockpoint Real Estate Fund VI, according to a contact at the endowment. Three of the four funds will use capital raised to invest in the Asia-Pacific region while Rockpoint Real Estate Fund VI will invest exclusively in North America.

The $32.73 billion endowment has a 7% target allocation to real estate that currently stands at 13%.

As illustrated in the charts below, Texas Permanent School Fund has an appetite for fund investments that spans across multiple strategies and regions. It is the first round of commitments that the endowment has announced in 2019.

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