Texas Teachers makes $15 million real estate commitment
The Teacher Retirement System of Texas has allocated $15 million to TriGate Property Partners II, a commingled fund managed by TriGate Property Partners. The $300 million fund focuses on direct investment in the distressed debt and equity of existing assets in the United States. The fund had raised $180 million in capital as of Nov. 28, 2012. In November 2012, TriGate Property Partners II acquired a four-property retail portfolio in metropolitan Phoenix. Recent investors include the Ohio Police & Fire Pension Fund and the City and County of San Francisco Employees’ Retirement System.