TRS approves $379.62m commitment

The US public pension has backed a North American real estate fund.

Institution: Teacher Retirement System of Texas
Headquarters: Austin, United States
AUM: $153.13bn
Allocation to alternatives: 31.10%
Bitesize: $200-500m

Teacher Retirement System of Texas (TRS) has agreed to commit $379.62 million to Banner Oak Industrial Development Venture II, a contact at the pension informed PERE. The North American fund invests opportunistically in industrial property.

The $153.13 billion US public pension has a 14.0 percent target allocation to real estate that currently stands at 12.0 percent.

As illustrated in the charts below, TRS has committed to nine real estate funds with a 2019 vintage, that combined constitute $1.97 billion.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.