TRS Texas continues partnership with Pennybacker Capital

The US pension fund made a $100m commitment to the Texas-based real estate firm.

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  • Name: Teacher Retirement System of Texas
  • HQ: Austin, US
  • AUM: $179.7 billion
  • Allocations to Real Estate: 16.35%

Teacher Retirement System of Texas committed $100 million to Pennybacker Capital’s  sixth fund in the series, Pennybacker VI, a source from the pension confirmed.

Founded in 2006, Pennybacker Capital is a Texas-based real estate firm targeting investments in commercial and multifamily sectors in sustainable growth market of the United States.

The pension fund previously committed to Pennybacker V, Pennybacker III and II as well.

As illustrated below, TRS Texas’ recent real estate commitments are focused on the North American region.

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