Searches and Hires

Texas Teachers assigns $225 million to U.S. special situations real estate fund

Texas Teacher Retirement System, Austin, committed $225 million to Mack Real Estate Finance, a transaction report showed.

The commitment, made in mid-August, is the $151.4 billion pension fund's first to the fund's manager, Mack Real Estate Credit Strategies.

Portfolio managers for the special situations real estate finance strategy will focus on lending for transitional properties in prime markets in the U.S.

The commitment is from the pension fund's $17.6 billion real assets portfolio, according to the transaction report.