Investors - MAY 6, 2016

Texas Teachers commits $400m to real estate and infrastructure

by Zoë Wolff

The $128 billion Teacher Retirement System of Texas has committed $400 million to two funds, according to a recent transaction report.

The retirement system has committed $150 million to AEW Senior Housing Investors III, which launched in mid-April. The fund’s predecessor, AEW Senior Housing Investors II, held a final close of $371 million in 2014 and invested mainly in age-restricted, independent-living, assisted-living and memory-care communities.

Texas TRS also committed $250 million to Brookfield Infrastructure Fund III, managed by Brookfield Asset Management. The fund’s predecessor, Brookfield Infrastructure Partners II, invested mainly in infrastructure assets in the United States and Canada. The fund held a final close of $7 billion in October 2013.

The retirement system has a 14 percent target allocation to real estate and a 3 percent target allocation to infrastructure.

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