Texas Teachers commits $200m to Davis Companies real estate funds

The Teacher Retirement System of Texas (TRS of Texas) has committed $100 million to Davis Investment Ventures Fund V (DIVF V) and $100 million to a Davis Investment Ventures Fund VI Co-Invest Sidecar vehicle.

Managed by The Davis Companies, DIVF V is seeking to raise $950 million of capital and is opportunistically investing life sciences, multifamily and self-storage property assets in the United States.

This is TRS of Texas’ first investment with The Davis Companies.

As of Aug. 31, 2023, TRS of Texas had 16.15 percent ($30.1 billion) of its $186.6 billion portfolio allocated toward real estate, slightly above its 15 percent target allocation for the asset class.

For more information about this commitment or other funds, please visit our IREI.Q database.