Educational endowment commits to two managers
On behalf of the Texas Permanent School Fund, the Texas Board of Education has committed $100 million to AG Core Plus Realty Fund IV, managed by Angelo, Gordon & Co., and $50 million to Fudo Capital III, managed by CLSA Capital Partners, confirms DeEtta Culbertson, a spokesperson with the Texas Education Agency.
AG Core Plus Realty Fund IV launched in September with a $1.1 billion fundraising goal, and had already raised $314.1 million by the beginning of November, according to a filing with the SEC. The fund will focus on subperforming assets across the main property types in major U.S. cities. The Texas BOE committed $75 million to AG Core Plus Realty Fund III on behalf of the TPSF in 2012, according to the IREI FundTracker Database.