The $151.4 billion Teacher Retirement System of Texas has committed $250 million to a joint venture real estate fund, according to Rhonda Price, communications manager for the pension fund.
The fund, SFR JV-1, is a three-way joint venture comprised of Texas TRS, Singapore’s GIC and Tricon Capital Group. The fund will invest in rental homes across the United States.
In other recent commitments, 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.
