Texas TRS commits $300m to Abacus, Wheelock real estate funds

The Teacher Retirement System (TRS) of Texas has made $300 million of commitments to two existing real estate managers.

The pension fund said in a recent investment report that it invested $200 million in the value-added Abacus Multi-Family Partners VI, managed by Abacus Capital Group, and $100 million in the opportunistic Wheelock Street Real Estate Fund VII, managed by Wheelock Street Capital.

Abacus Multi-Family Partners VI invests in multifamily properties throughout the United States. The investment vehicle will acquire properties with specific characteristics, such as relative affordability in markets and submarkets showing favorable multifamily trends. Abacus Multi-Family Partners VI has a $1.25 billion fundraising target.

Wheelock Street Capital may invest directly or with high-quality joint venture partners through a variety of capital structures and transaction types, including acquisitions, restructurings and recapitalizations. As of May, the firm had