Teacher Retirement System of Texas commits $200m to Affinius real estate funds

The Teacher Retirement System of Texas (TRST) has made two commitments of $100 million each to Affinius Capital Partners VII-T and to Affinius Capital Partners VII-B.

Managed by San Antonio–based Affinius Capital, both funds will invest opportunistically in the United States in distressed debt backed by all real estate asset classes.

TRST has committed to many of Affinius Capital’s funds in the past, including $200 million to each of the past three vintages of this fund series.

As of August 31, 2022, TRST had $207.6 billion AUM, with 16.35 percent ($30 billion) of its portfolio invested in real estate and 6.2 percent ($11.4 billion) invested in energy, natural resources and infrastructure. Those allocation percentages compare with the fund’s real estate target allocation of 15 percent and its energy, natural resources and infrastructure target of 6 percent.

Affinius Capital was formerly known as USAA Real Estate.