OCTOBER 12, 2012

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Texas Retirement System commits $125 million

by Andrea Waitrovich

The $22.3 billion Employees Retirement System of Texas has committed $125 million to two real estate funds: $50 million to Northwood Real Estate Partners and $75 million to Latitude Real Estate Management III.  

Northwood Real Estate Partners is an opportunistic fund managed by Northwood Investors, a privately held New York City–based global real estate investment firm. The fund targets distressed real estate companies and assets — particularly office buildings, shopping centers and hotels — throughout the United States and selectively in Europe. It has an evergreen structure, which can hold assets for up to 15 years and reinvest profits back into the vehicle. With an evergreen vehicle, the firm is allowed to add capital to the fund once each calendar year, which is distinct from open-end funds that can accept capital on a more frequent basis.

Latitude Real Estate Management III is managed by Los Angeles–based investment manager La

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy