The $142 billion Teacher Retirement System of Texas has committed $550 million to three real estate funds, according to Juliana Fernández Helton, communications specialist for the pension fund.
Texas TRS committed $400 million to BREP Texas Trinity Fund, a real estate fund managed by Blackstone Real Estate Advisors.
The pension fund also committed to two funds managed by AEW Asia Limited, the Asia branch of AEW Capital Management. The first was a $100 million commitment to AEW Value Investors Asia III, a value-added fund that will invest in the major Asian gateway cities of Hong Kong, Seoul, Shanghai, and Taipei, Taiwan. The fund is seeking to raise a maximum of $750 million and has raised $275 million so far. The second was a $50 million commitment to AEW VIA III COINVEST T.
As of March 31, 2017, Texas TRS had an actual allocation to real estate of 14 percent, matching its targe
