The Teacher Retirement System of Texas (TRS) has committed $450 million to real estate funds in July, according to correspondence materials.
TRS invested $300 million in Starwood Capital’s Starwood Distressed Opportunity Fund XIII Global, a closed-end, opportunistic fund with a fundraising goal of $10 billion. The fund targets diversified, distressed opportunities in the United States, Europe and Asia Pacific. In May, Tampa Employees Retirement Fund committed $15 million to the fund. The fund’s predecessor, Starwood Distressed Opportunity Fund XII, closed with $10.1 billion in equity, slightly over its initial $10 million fundraising target.
DivCore Fund VII, a vehicle of DivcoWest, received $75 million for its closed-end, value-added/opportunistic strategy targeting diversified properties in the United States. The fund aims to raise $1.5 billion
