Institution: Teacher Retirement System of Texas
Headquarters: Austin, United States
Allocation to alternatives: 31.10%
Teacher Retirement System of Texas has agreed to commit $100 million to DivcoWest Fund VI, $75 million to Wheelock Street Real Estate Fund VI, $100 million to Square Mile Partners VI, $65 million to MREF TT Co-Invest and $25 million to Pennybacker Extended Investment Vehicle (Co-Investment Fund V), a contact at the pension informed PERE.
These funds focus on North America but invest through various strategies and into different sectors. DivcoWest and Pennybacker are both value-add funds, whilst Wheelock and Square Mile invest opportunistically. MREF TT Co-Invest is a real estate mezzanine / debt fund.
As illustrated below, the $152.2 billion US public pension has a 15.0 percent target allocation to real estate that currently stands at 12.0 percent.
Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.