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Texas Permanent School Fund steers $400 million to three real estate funds

Texas Permanent School Fund, Austin, received approval from the Texas State Board of Education for commitments totaling $400 million during a board meeting Friday, confirmed Debbie Ratcliffe, an SBOE spokeswoman, in an email.

The largest commitment was $225 million to Morgan Stanley (MS) Real Estate's Prime Property Fund, followed by $100 million to Prologis Targeted U.S. Logistics Holdings II, and $75 million to Invesco (IVZ) Core Real Estate - USA, managed by Invesco Real Estate.

The SBOE oversees investment of the Texas Permanent School Fund.