Texas Teacher Retirement System, Austin, committed a total of $350 million to two real assets strategies in October, a transaction report from the $128.2 billion fund showed.
The pension fund committed $300 million to Lone Star Fund X (U.S.) for investment in non-performing and poor-performing single family residential real debt, corporate debt and consumer debt in the U.S. The fund has made prior commitments to four earlier Lone Star Funds offerings, the most recent of which was $278 million to Lone Star Fund V in March.
TRS also earmarked $50 million for AEW VIA II. The co-investment fund is a companion to AEW Value Investors Asia II, which received a $100 million from the pension fund in March. AEW Capital Management will seek value-added real estate investments in properties in high-growth Asian cities, including Hong Kong, Singapore, Seoul and Shanghai. TRS has awarded commitments to three previous AEW real estate funds.