Texas Permanent School Fund, Austin, committed up to $100 million to the Prime Property Fund, managed by Morgan Stanley Real Estate Advisor, part of the $26.9 billion fund's buildout of its real estate portfolio.
Approval for the hire was granted at a Sept. 20 meeting of the State Board of Education, which oversees investment of the educational endowment, confirmed DeEtta Culbertson, a board spokeswoman, via e-mail.
The school fund's real estate portfolio totaled about $1.3 billion of commitments and investments as of Aug. 31.