CalSTRS made commitments totaling $293 million to two European real estate managers and another $100 million to a U.S. fund, said spokesman Ricardo Duran.
The largest commitment of $200 million goes to The Children's Investment Fund Management's TCI Real Estate Partners Fund I, which will invest in first mortgages backed by “trophy” assets in Western Europe and the U.S., according to a CalSTRS transaction report.
The $187.1 billion California State Teachers' Retirement System, West Sacramento, also committed $93 million to Meyer Bergman European Retail Partners II, which will invest in a diversified portfolio of retail assets across Europe.
In the third investment, CalSTRS is committing an additional $100 million to Prudential Real Estate Investors' PRISA II fund. The open-end value-added real estate fund has two components, an income generating core element, and a non-core component.
All the commitments were made in the quarter ended Sept.30, Mr. Duran said.