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Investors - NOVEMBER 8, 2019

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Texas TRS discloses $365m in real estate investments for October

by Kali Persall

The Teacher Retirement System of Texas, the largest public retirement system in the state, invested a total of $365 million in five real estate funds during October, according to a recently released commitment report.

Texas TRS committed $100 million to DivcoWest Fund VI-A, a value-add fund managed by an affiliate of DivcoWest; $75 million to Wheelock Street Real Estate Fund VI, an opportunistic fund managed by Wheelock Street Capital; and $100 million to Square Mile Partners VI, an opportunistic fund managed by Square Mile Capital Management VI.

In addition, the pension fund committed $65 million to a co-investment managed by Mack Real Estate Credit Strategies and $25 million to Pennybacker EIV, managed by Pennybacker Capital.

All of the limited partnership vehicles were located in the United States and the commitments closed at various times throughout October.

As of March 31, the pension fund had a target allocation to real estate of 14 percent and an

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