The Teacher Retirement System (TRS) of Texas disclosed $350 million in new value-add real estate commitments for the month of April.
TRS committed $250 million to the Guadalupe Partner fund, managed by USAA Equity Advisors, and $100 million to CBRE Strategic Partners 9 Tiger, managed by CBRE Global Investors.
The CBRE Strategic Partners 9 Tiger fund was launched in late April with $100.5 million in capital commitments from two investors, according to an An equity fundraising target was not disclosed.
The moves were not made in reaction to the COVID-19 pandemic.
“I am not aware of any of these commitment decisions being related to the pandemic in any way,” Rob Maxwell, the fund’s communications specialist, said in an email. “Texas Teachers’ is a long-term pension fund which plans carefully over a 25-year horizon.”
