The Teacher Retirement System of Texas has committed a total of $500 million to core and opportunity real estate funds, according to Rob Maxwell, investments communications specialist for Texas TRS.
In its first commitment, Texas TRS put $300 million toward Oak Street Real Estate Capital Net Lease Property Fund, managed by Oak Street Real Estate Capital. The core property real estate fund targets triple-net-lease strategies.
The second commitment was $200 million to Westbrook Real Estate Fund XI, managed by Westbrook Partners. The opportunistic, value-added real estate fund targets major properties.
As of Aug. 31, 2018, Texas TRS has a target allocation to real estate of 14 percent and an actual allocation of 11.8 percent.
