Texas TRS invests in AEW Senior Housing fund
The $110 billion Teacher Retirement System of Texas (TRS) has committed $100 million to AEW Senior Housing II, a U.S. value-added fund focused on the senior housing sector and managed by AEW Capital Management. The closed-end fund was launched in January 2012 and has a fundraising goal of $300 million. It held a $113 million initial close in November. The AEW fund focuses on independent- and assisted-living properties. The Texas TRS real estate portfolio was valued at $11.8 billion, or 11 percent, as of June 30, 2012 (see IREN, 11/19/12).