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Sign in Sign up for a FREE subscriptionTexas TRS makes commitments to Principal and CBRE funds
The $133.4 billion Teacher Retirement System of Texas has committed $230 million to Strategic Real Estate Equity Fund II, according to Juliana Fernández Helton, communications specialist.
Strategic Real Estate Equity Fund II, managed by Principal Real Estate Investors, is an opportunistic real estate fund. It will invest in properties throughout the United States.
The fund also committed €89.7 million ($102 million) to European Value Partners 2. The real estate fund, managed by CBRE Global Investors, recently launched in June with a $1 billion fundraising target. The value-added fund will invest in office, industrial, multifamily and retail properties throughout Europe. The fund plans to close in June of next year, according to IREI’s FundTracker database.
As of March 31, 2017, Texas TRS had a real estate allocation target of 14 percent.
