Blackstone Real Estate Partners X picks up another Texas pension fund

Another Texas pension fund has joined Blackstone Real Estate Partners X (BREP X) as an investor.

The Houston Firefighters’ Relief and Retirement Fund committed $100 million to the opportunistic fund, which was launched in May to invest in diversified property types globally.

The Teacher Retirement System of Texas also recently committed $200 million to BREP X. Other U.S. pension fund investors include the University of Vermont and State Agricultural College, the Teachers’ Retirement System (TRS) of the State of Illinois and the Teachers’ Retirement System of Kentucky.

A fundraising target for BREP X has not been disclosed. The fund’s predecessor, Blackstone Real Estate Partners IX (BREP IX), held its final close in 2019 with $20.5 billion of capital commitments.

Houston could not be reached to comment on its investment at the time of publication.

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