Texas TRS contributes $100m to NB Alternatives Advisers’ fund
The Teacher Retirement System (TRS) of Texas has disclosed a $100 million commitment to AIMS Sidecar I, an opportunistic strategy managed by NB Alternatives Advisers, as part of its real estate exposure.
The fund appears to have launched in October, according to an SEC filing. However, a fundraising target was not disclosed.
Neuberger Berman manages a range of equity, fixed income, private equity and hedge fund strategies on behalf of institutions, advisers and individual investors worldwide. The firm’s real estate platform has $14 billion of assets under management across an integrated global platform, according to the Neuberger Berman website.
Texas TRS said the commitment builds on an existing partnership with this manager.