Texas school fund commits $75m to real estate
The Texas State Board of Education has committed $75 million to Mesa West Real Estate Income Fund IV on behalf of the $37.7 billion Texas Permanent School Fund.
The value-added debt fund managed by Mesa West Capital is targeting $750 million in equity commitments and focuses on lending across all major property types in primary markets. The fund recently received a commitment from the San Joaquin County (Calif.) Employees’ Retirement Association.
The Texas Permanent School Fund has an 8 percent target allocation to real estate.