Texas TRS commits $200m to core real estate fund

The $142 billion Teacher Retirement System of Texas has approved a $200 million equity commitment to a fund managed by Madison International Prime Property Realty, according to Rhonda Price, interim director of communications for the pension fund.

The fund, Madison International Prime Property Investors Series I, is a real estate core fund. Madison focuses on capital partner replacements, equity monetization and recapitalizations of class A properties and portfolios located throughout the United States, the United Kingdom and Western Europe, as well as investments in public/private companies owning similar quality properties. Since inception, Madison has raised more than $4.4 billion in capital commitments from more than 150 institutional investors around the world.

Texas TRS has a target allocation to real estate of 14 percent.