Institution: Teacher Retirement System of Texas
Headquarters: Austin, United States
Allocation to alternatives: 31.10%
Teacher Retirement System of Texas (TRS) has agreed to commit $510 million across three real estate vehicles, a contact at the pension informed PERE. The commitments comprise of $200 million to Lone Star Residential Mortgage Fund II, $300 million to Lone Star Real Estate Fund VI and €9.24 million ($10 million) to CBRE French Logistics Feeder; a co-investment vehicle investing alongside CBRE’s Europe Value II fund.
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 made five commitments to real estate funds with a 2019 vintage, which combined constitute $676.2 million.
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