Investors - JUNE 29, 2017

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Texas Permanent commits $400m to real estate funds

by Jody Barhanovich

The $30 billion Texas Permanent School fund has committed $400 million to three real estate funds, according to Holland Timmins, executive administrator and CIO.

The pension fund committed $225 million to Morgan Stanley Real Estate’s Prime Property Fund. The fund is a core return, fully specified, open-end commingled fund diversified by property type and location and designed to provide a stable, income-driven rate of return over the long term with the potential for growth of net investment income and appreciation of value.

In its second allocation, the pension fund committed $100 million to Prologis Targeted U.S. Logistics Holdings II. The fund, which previously launched in first quarter 2017, invests in industrial properties throughout the United States.

Lastly, the pension fund allocated $75 million to Invesco Core Real Estate – USA. The open-end fund invests in U.S. core properties. Throughout its fundraising, the fund has received commitments from

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