SEPTEMBER 29, 2014

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

Sign in Start Your Free Trial Now View Purchase Options

Texas School Fund comes back to Blackstone

by Reg Clodfelter

After committing $75 million to Blackstone Real Estate Partners Europe IV in December 2013, the Texas Permanent School Fund is re-upping with the manager, committing another $25 million to BREP Europe IV as well as $100 million into The Blackstone Group’s new core-plus fund, Blackstone Property Partners. 

Targeting an unusual strategy for the typically opportunistic manager, BPP is an open-end fund that is reportedly seeking around $5 billion to garner 9–11 percent returns from office, retail, multifamily and industrial properties in major markets in North America. 

BREP Europe IV closed to new investors in March 2014 after raising $7 billion. The opportunistic fund targets high-quality but distressed properties throughout Europe, which it will stabilize to core before turning over.

TPSF has had a few noncore commi

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