Texas Teachers commits $350m to AEW, Lone Star funds
The $132.7 billion Teacher Retirement System of Texas has committed a total of $350 million to two real estate funds.
The first allocation is an additional commitment of $50 million to AEW Value Investors Asia II, managed by AEW. The pension fund previously committed $100 million to the AEW Value Investors Asia II in April 2016.The closed-end fund will focus its investments in value-added office, multifamily and retail properties in the major Asian gateway cities of Hong Kong, Seoul, Shanghai, and Taipei, Taiwan.AEW is seeking to raise $750 million for the fund.
The second allocation was a commitment of $300 million to Lone Star Fund X, managed by Lone Star Funds. The closed-end, opportunistic fund will invest in debt secured properties in Europe, Asia and the United States. The pension fund