The $151.4 billion Teacher Retirement System of Texas has committed $150 million to a value-added fund, according to Rhonda Price, communications manager for the pension fund.
Texas TRS committed $150 million to Square Mile Credit Partners II-A, managed by Square Mile Capital Management. It has a real assets special situations strategy, according to pension fund documents. The value-added fund will focus on U.S. mezzanine debt and mortgages.
Texas TRS has a target allocation to real estate of 14 percent.
