Texas school fund commits to European property fund
The $37.7 billion Texas Permanent School Fund has committed €50 million ($54.5 million) to Tristan Capital Partners’ European Property Investors Special Opportunities IV fund. EPISO IV announced recently the first and final close of the fund after having raised €1.5 billion ($1.6 billion) in four months — the fastest capital raise in the firm’s history. Tristan said in a statement that half its capital came from U.S. investors. A little more than a month ago, the San Francisco Employees’ Retirement System announced a commitment of €100 million ($112.5 million) to the fund. The Texas Permanent School Fund has an 8 percent target allocation to real estate.