The Teacher’s Retirement System of Texas (TRS) has committed $675 million to real estate funds in June 2025, according to the pension fund.
TRS committed $250 million to Blue Owl Real Estate Fund VII, a vehicle of Blue Owl Real Estate Capital. This fund is a closed-end, value-added fund that invests in industrial assets and office and retail properties. It has a fundraising goal of $6.5 billion.
Faropoint Industrial Value Fund (FIVF) IV, a vehicle of Faropoint, received $225 million in commitments. This fund is a closed-end, value-added fund that invests in industrial assets. FIVF IV has a fundraising goal of $1 billion.
MSD Hospitality Partners, a fund managed by MSD Real Estate Management, received $200 million. This fund utilizes a value-added strategy.
Texas TRS had $207.3 billion in total assets under management as of Dec. 31, 2024. As of then, it had a 15 percent real estate allocation target and $29.8 billion in total real estate assets.
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