Texas Teachers commits $400m to real estate
The Teacher Retirement System of Texas has committed $400 million to real estate, with $300 million allocated to Starwood Global Opportunity Fund X and the rest going to Iron Point Real Estate Partners III.
Starwood Capital Group’s SGOF X is an opportunistic fund that launched earlier this year with a $4.5 billion fundraising goal. The fund had already raised $2 billion by July. The fund targets a wide range of property types and opportunities throughout the United States and Europe, and will invest up to 50 percent of its capital in Europe.
SGOF X has received commitments from a number of institutional investors including the Texas County & District Retirement System