Institution: Teacher Retirement System of Texas
Headquarters: Austin, Texas
Allocation to alternatives: 31.10%
Teacher Retirement System of Texas (TRS) has agreed to commit $50 million to Pennybacker V, $160 million to Square Mile Media Co-Investment and $22.13 million to Greystar TT Barton Springs, a contact at the pension informed PERE. Pennybacker V is a North American value-add fund, whereas the the latter two vehicles prioritise co-investments.
The $145.89 billion US public pension has a 15.0 percent target allocation to real estate that currently stands at 12.0 percent.
As illustrated below, TRS has made 12 commitments to real estate funds with a 2019 vintage, which combined constitute $2.16 billion.
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