Portfolio Advisors secures $25m investment for latest real estate secondaries strategy

The Texas Permanent School Fund has made a $25 million commitment to Portfolio Advisors Real Estate Fund VIII, a real estate secondaries strategy managed by Portfolio Advisors, according to reports.

Portfolio Advisors Real Estate Fund VIII opened to investors in January 2021, and has since secured capital from investors such as the Texas Permanent School Fund and the Missouri Local Government Employees Retirement System, which contributed $40 million to the fund in February 2021.

Portfolio Advisors Real Estate Fund VIII will invest in secondaries and direct co-investment transactions in the private real estate sector. The fund is predominantly focused on the U.S. market.

The previous fund in the series, Fund VII, closed in January 2020 with $237.6 million in capital commitments, and its predecessor fund, Fund VI, closed in 2017 with $485 million.

Portfolio Advisors