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Investors - NOVEMBER 25, 2014

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Educational endowment commits to two managers

by Reg Clodfelter

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.

Fudo Capital

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