TRS Texas approves nearly $240m in commitments

The Austin-based pension fund has committed to three distinct real estate vehicles.

Institution: Teacher Retirement System of Texas
Headquarters: Austin, US
AUM: $$176.90 billion
Allocation to alternatives: 34 percent

Teacher Retirement System of Texas has agreed to commit to almost $240 million-worth of investments with three private real estate vehicles, a contact at the pension fund informed PERE. 

The fund commitments comprise $150 million to Harrison Street Real Estate Partners VIII, $49.5 million to Banner Oak BOV UK, and $44.4 million to USEF Whisper co-investment vehicle. Harrison Street Real Estate Capital is currently in market capital raising for its eighth opportunistic residential real estate fund. According to PERE, the fund manager has already raised more than $700 million at its first fund close.

The $176.9 billion US public pension has a 15 percent target and actual allocation to real estate.

As illustrated below, TRS Texas’s recent commitments have predominantly targeted core and opportunistic real estate vehicles across multiple sectors and regions.

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