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TRS approves $250m in commitments

The US public pension has backed two opportunistic 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 $250 million-worth of commitments to real estate funds, a contact at the pension informed PERE.

The commitments comprise of $150 million to Secured Capital Real Estate Partners VII, as well as a $100 million top-up commitment to Square Mile Partners VI. TRS previously committed an initial $100 million to Fund VI in November 2019.

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

As illustrated below, TRS has made several commitments to 2019-vintage real estate vehicles, which combined constitute $3.82 billion.

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