Investors - JUNE 29, 2020

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Texas Permanent School Fund commits to four real estate funds in first quarter

by Kali Persall

Texas Permanent School Fund made a series of commitments to real estate managers in the first quarter of the year.

These included a $75 million commitment to AG Europe Realty Fund III, building on an existing relationship with Angelo, Gordon & Co.

The fund also committed $55 million to BlackChamber Real Estate Opportunity Fund, managed by BlackChamber Partners; $50 million to GreenOak Europe III, managed by BentallGreenOak; and a total of $50 million in CapRock Partners Management, with $35 million going to CapRock Partners Value-Add Industrial Fund III and $15 million allocated to CapRock Partners Industrial Co-investment Fund III (TX).

The latter commitments with BlackChamber, BentallGreenOak and CapRock represent new manager relationships for Texas Permanent.

The commitments follow a $50 million commitment to Exeter Industrial Value Fund V, building on an existing relationship with Exeter Property Group, in the fourth quarter of 2019.

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