Teacher Retirement System of Texas, Austin, hired Townsend Group as the $91 billion system's first real estate consultant, according to Juliana F. Helton, spokeswoman. She said Townsend will help the system, which has about $267 million in real estate, find, underwrite and perform due diligence on core and opportunistic real estate partnerships. The system also committed $300 million to Apollo Investment Fund VI and plans to commit another $150 million to the CSFB Emerging Opportunities Fund, bringing its total commitment to $250 million.
The board also extended the system's contract with State Street Corp., its global custodian and securities lending agent, until August 2007, when an extension will be considered or an RFP issued, Ms. Helton said.
