The Teacher Retirement System of Texas (TRS) has committed $350 million to a separate account, Cerberus Proper Partners, according to investment correspondence.
Cerberus Proper Partners is dedicated to special situation real estate assets in the United States. No other details were provided for this program.
Texas TRS, a public pension fund, had $225.3 billion in total assets under management, as of June 30, 2025. As of then, the pension fund had a 15 percent real estate allocation target with $30.1 billion in total real estate assets.
