The Teacher Retirement System (TRS) of Texas has disclosed two new real estate commitments during the month of March.
The pension fund committed $150 million to Lone Star Residential Mortgage Fund III, managed by Lone Star Residential Mortgage Management Co., and $81 million to Texas GCM Opportunistic RE Investments, managed by GCM Grosvenor Capital Management.
Lone Star Residential Mortgage Fund III is a U.S. special situations strategy that launched in December 2021, according to an SEC Form D. The fund’s predecessor, Lone Star Residential Mortgage Fund II, targeted investments in performing, subperforming and lower loan-to-value nonperforming U.S. single-family residential mortgage loans, mortgage servicing rights or interests in MSRs and assets rela
