Texas Teachers commits $500m to real estate
The Teachers Retirement System of Texas has committed $500 million to high-yield real estate, divided among three managers, confirms Juliana Fernandez Helton, communications specialist with the retirement system.
Almanac Realty Investors received $200 million from the retirement system for CMTG Investor, a co-investment vehicle between Almanac and the retirement system that will invest in a company from the portfolio of Almanac Realty Securities VII.
The Teachers Retirement System of Texas committed $200 million to Almanac Realty Securities VII in 2014.
Another $200 million was committed to Oaktree Real Estate Opportunities Fund VII, an opportunistic fund offered by Oaktree Capital Management. The fund, which opened in 2014,is reportedly seeking a $3 billion haul. The opportunistic fund series targets properties, operating companies and debt, including CMBS, and is mainly focused on the United States, though it will also invest in foreign markets.&nbs