Texas Teacher Retirement System, Austin, committed $200 million to Ranger Co-Investment Fund III, the pension fund's third co-investment commitment with real estate manager LaSalle Investment Management, confirmed Howard Goldman, spokesman for the $117 billion pension fund in an e-mail.
In all, pension fund officials have made $600 million in total commitments to the discretionary strategy to seek out real estate co-investment opportunities across all property types, risk profiles, capital structures and geographies. TRS committed $200 million each to Ranger I and Ranger II. Pension fund officials will invest most of the capital with existing TRS real estate managers but will consider investing alongside managers with which TRS does not yet have an existing relationship.
