Investors - APRIL 12, 2016

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Texas Permanent School Fund commits $145m to real estate

by Zoë Wolff

The Texas State Board of Education has committed $145 million to two real estate funds on behalf of the $24.3 billion Texas Permanent School Fund, according to recent meeting documents.

The board approved a commitment of $75 million to Kildare European Partners II, which invests in European real estate, and $70 million to PAG Enhanced Credit fund, which invests in properties in the Asia Pacific region.

The Texas Permanent School Fund has a 6.82 percent actual allocation to real estate and a target allocation of 8 percent.

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